UFODrive wants to fund expansion through crowdfunding

Luxembourg-based startup UFODrive, which rents out electric cars via app in several European cities, has launched a crowdfunding campaign. Money is now being raised on a financing platform for the company’s expansion plans.

Just a few days after launching the campaign, UFODrive reported that it has already collected more than 80 percent of its target amount of $2 million (1.5 million pounds). The Luxembourg-based company intends to use the funds to drive forward the expansion of its software solution and its activities in Europe.

UFODrive explicitly relies on an app-based business model, through which the rental process can be completed around the clock and “in just a few steps.” In addition, the startup focuses exclusively on electric cars. This focus has enabled it to buck the trend in the crisis year of 2020, opening new locations, and doubling its customer base, UFODrive shares. In the past two years, the company says it has opened 17 locations in eight countries.

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In addition to the United Kingdom, Germany is now to be the main focus: 

The electric car rental company UFODrive is expanding into further cities. As of now, the Tesla Model 3 and Model S are available for rent at Potsdamer Platz in Berlin and at three locations in London.

With the new locations, the company is now active in a total of twelve European cities. The entire rental process is purely app-based. The vehicles are picked up and dropped off at fixed stations.

Anyone in Berlin who wants to rent an electric car for a day can now do so at Potsdamer Platz in the “Mall of Berlin” parking garage. The company has entered into a partnership with APCOA for this purpose. The parking garage now offers the Tesla Model 3 for $120 (€99) and the Model S for $181 (€149) per day. The price also includes commercial insurance and three additional drivers.

By the end of 2021, UFODrive wants to set up between six and ten new locations in Germany. Locations are planned in Frankfurt, Düsseldorf and Munich, among others – at “attractive locations for business travelers,” such as airports. UFODrive is already present in German-speaking countries in Cologne, Hamburg, Berlin and Vienna.

For the end of 2021, the startup is also aiming to make the leap across the Atlantic. The goal is to tap into the U.S. market, starting with locations on the West Coast, according to the company’s headquarters. In addition to the rental car business, UFODrive also launched a fleet management software for e-cars in the summer of 2020, which is not only used for its own purposes, but is also available to other companies.

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(Featured image by Jteder via Pixabay)

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