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Successfully funded
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Midrive is reinventing driving and insurance for the digital generation. In the last 12 months, monthly revenue from their 'pay as you go' hourly insurance and 'app-powered' lessons has increased 391%. Double-gold rated investment on CrowdRating.co.uk and backed by Initial Capital.
- Over 100,000 hours of driving lessons sold
- Rated 9 out of 10 on Trustpilot by learners and parents
- Led by ex-Moneysupermarket GM, ex-Bookatable COO
- Backed by VCs Initial Capital and Force Over Mass Capital
Idea
:max_bytes(50000)/https://files-crowdcube-com.s3.amazonaws.com/files/opportunity_section_media/original/201802/c1dcf6fa63581c7add53cbafba62c4f2.png "Theory app - We’ve turned learning theory into a game, making practising all the official DVSA questions easy and fun.")
Theory app - We’ve turned learning theory into a game, making practising all the official DVSA questions easy and fun.
:max_bytes(50000)/https://files-crowdcube-com.s3.amazonaws.com/files/opportunity_section_media/original/201802/629db4d2906de114a1669c7352065198.png "Learner app - We accelerate learning in practical lessons with a digital curriculum and lessons reports to track performance every step of the way.")
Learner app - We accelerate learning in practical lessons with a digital curriculum and lessons reports to track performance every step of the way.
:max_bytes(50000)/https://files-crowdcube-com.s3.amazonaws.com/files/opportunity_section_media/original/201802/c03470190a7c5e2bb878b95f97750cbc.png "Anytime insurance app - Our own innovative \"pay as you go\" hourly insurance product helps learners get extra practice with parents and friends, without risking their no claims bonus.")
Anytime insurance app - Our own innovative "pay as you go" hourly insurance product helps learners get extra practice with parents and friends, without risking their no claims bonus.
52% of UK learners fail their first driving test. Of those who pass, 1 in 5 crash in the first six months.
At Midrive, we’re on a crusade to modernise the £9.6Bn first time driving and insurance market (the first 2 years on the road). Our technology connects instructors with young drivers and includes online lesson booking, digital curriculum, and mobile app based progress tracking tools.
Midrive learners are 38% more likely to pass first time and rate us 9 out of 10 on Trustpilot. Our instructor network has grown to one of the largest in the country with over 1,650 members.
Not only do we help learners pass their test, we help them get on the road with our own innovative "pay as you go" hourly insurance for extra practice with parents and friends.
Recently, we were honoured to be named one of Apple’s ‘All-time Favourite Apps’ and 'Digital Business of the Year' by the Federation of Small Businesses.
2018 will see Midrive launch its next insurance innovation, interactive black box insurance that uses data about speed & acceleration to continue coaching new drivers after they pass their test, keeping them crash free.
We already have the support of leading investors including Holiday Extras, Force Over Mass Capital, and Initial Capital (details in Documents), but are raising on Crowdcube to give our instructors and brand advocates the opportunity to own part of the company as we scale.
