Member Article

'Airbnb for motor vehicles' gets backing from high-profile entrepreneurs

Person-to-person car lending platform HiyaCar has received backing from two seasoned entrepreneurs as part of its crowdfunding campaign on Seedrs.

Mark Chapman and Graham Hobson, who both founded online photo printing company PhotoBox in 2000, have both invested capital into the new platform dubbed ‘Airbnb for motor vehicles’.

Bringing the sharing economy philosophy to car hire, London-based HiyaCar aims to ‘disrupt the $60bn hire car market’ according to co-founder Graeme Risby, by putting car owners in touch with users looking to hire a car.

This new backing comes just months after the firm began trading in February and means it has now raised more than £550k from over 400 investors in two crowdfunding campaigns on crowdfunding platform Seedrs.

In a joint-statement, co-founders Robert Larmour and Graeme Risby, hailed the investment from the PhotoBox founders who will provide insight and advice in the development of the HiyaCar platform.

They said: “We are delighted that Mark and Graham have invested in HiyaCar alongside the hundreds of Seedrs investors. To have such respected, high-caliber entrepreneurs who really understand the space is a massive vote of confidence.

“Photobox has given Mark and Graham first-hand experience of building a leading online marketplace.

“Their knowledge and input will be an invaluable contribution to HiyaCar and we are thrilled that they are joining us on this exciting journey.”

Following the investment, Mark Chapman, Founder of PhotoBox commented: “I’m delighted to be making an investment in HiyaCar. I believe a great combination of well thought out strategy and an able, passionate team will deliver a leading business in what is a rapidly developing market.”

Photobox is headquartered in London and merged with online personalised card website Moonpig in 2011 to create the PhotoBox Group.

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