Sunday, January 29, 2023
Home Tech News Manchester-based online car rental firm Stressfreecarrental.com secures £534K; eyes Europe expansion

Manchester-based online car rental firm Stressfreecarrental.com secures £534K; eyes Europe expansion

There are so many different car rental brands, prices, and insurance options to choose from, making the process much more stress full than we believe it should be. Well, here’s where StressFree Car Rental, a Manchester-based online car rental platform, comes into play. 

Secures £534K

Stressfreecarrental.com, on Friday, announced that it has raised £534K in a funding round led by DSW Ventures. Angel investor Harry Dixon, former technical director at Rentalcars.com, also participated. 

The latest funding will enable Stressfreecarrental.com to expand its team with 13 new jobs in the next 12 months and extend its reach into Europe and accelerate growth.

Founder and CEO John Charnock says: “We built great foundations for the business last year and this year we’ve seen significant growth in our revenues despite the ongoing pandemic. This investment will enable us to take the business to the next level by extending our reach into foreign language domestic markets, offering clear and transparent car rental in Spain, Italy, Portugal, Germany, and Greece.”

Investor

DSW Ventures invests in early-stage scale-up businesses requiring venture funding of more than £250K, primarily on an EIS basis. It is funded by a growing network of high-net-worth angel investors.

Ellie Boardman, Investment Manager at DSW Ventures comments: “The online car rental market is ripe for disruption. Stressfreecarrental.com offers a fresh approach, and we believe it is well-placed to achieve significant scale. The business has already gained considerable traction, despite restrictions on travel, and this round will support its further development and growth.”

As part of the investment, travel industry veteran James Jennings joins as chairman, while Tom Knopek, who has had a 30-year career in the car rental industry, has been appointed as a non-executive director.

Price comparison and booking platform

Founded by John Charnock, David Mathews, and Rory Powers in 2020,  Stressfreecarrental.com provides price comparison and booking platform for car hire and airport transfers.  

The company aims to bring a fresh approach to product, service, and technology and offer lower prices, improved transparency, and better customer experience.

The Manchester-based company already operates in the UK, South Africa, Australia, and the US. The company has partnered with some of the biggest names in the car rental industry: Europcar, Enterprise and Hertz, and many more.

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