Faraday In The News

Renting Finders closes € 700,000 round led by Faraday to accelerate growth

By 26 July 2022 July 27th, 2022 No Comments

Renting Finders, the leading car rental marketplace in Spain and Portugal, will continue its internationalisation in Europe.

Renting Finders, the leading car rental marketplace in Spain and Portugal, has closed a €700,000 round that will allow it to accelerate its growth and continue its internationalisation in Europe. The round was led by Faraday Ventures Partners with existing investors such as Tadium Invest, IPGlobal, Koejans Capital and Sembi also participating.

Founded in 2018 by Arturo Álvarez Podhorecka and Javier Maside Echavarren, the platform has gained more than 3,000 private and professional clients in Spain and Portugal.

Renting Finders transforms the leasing process by offering a 100% digital, user-centric experience that allows a vehicle to be hired in 15 minutes. The company has added more than 2,000 vehicles from main leasing operators, with deliveries that can be made in less than 3 weeks right to their customer’s doorstep. In addition, it includes exclusive coverage that minimises the risk of non-monthly payment for its clients.

According to Arturo Álvarez, CEO and co-founder of Renting Finders. “Despite the current shortage situation in the automotive sector, we were able to grow by 60% in 2021 and to successfully internationalise the company. Renting is already a reality among the private public and Renting Finders helps them to get a better service than they can get if they hire a vehicle on their own, at a better price, without added costs and without paperwork”.

The Madrid-based startup will use the funds to strengthen its team, increase its investment in marketing and prepare its launch in a third market. The company currently has a team of 40 people and offices in Madrid and Lisbon.

Jaime Biel, Partner at Faraday adds, “Renting Finders has experienced considerable growth since its inception and the company shows high long-term potential, which makes it a very attractive investment. We are very pleased to be able to support the company in its next phase of market consolidation.”

Media sources: EU-Startups, Silicon Canals, Rude Baguette