• Target

    £1,000,000

  • Type

    Equity

  • Close Date

    Oct 6 2018

  • Status

    Live

RISK WARNING: Your capital is at risk. The risks include: the lack of liquidity in this market in terms of being able to realise investments and the loss of the value of investment. When you invest any loss in value will not be covered by the Financial Services Compensation Scheme. Please read FULL risk warning.

White Car Ltd

To make hiring a car simpler than owning one. Whitecar uses an all electric fleet of Tesla vehicles to deliver a car hire service beyond expectation.

Investment closes only once the total pledged amount passes the minimum of £500,000

Total Pledged: £508,493
Max

£1,000,000

A pledge is not a commitment. You will be asked to confirm in the next section.

Track
Contact
Companies
House
Twitter

Overview

Founded in 2016, Whitecar was launched with the mission to change the way the car rental industry operates. Traditionally, companies in the car hire industry have operated using an out-dated business model.  However, Whitecar’s business model is designed to make car hiring simple by offering one car, at a fixed price and by enabling all bookings to be made through an app.  Whitecar is a UK based electric car hire company offering only Tesla all-electric and zero emission cars with technology at its core.

Whitecar opened its Heathrow branch with five Tesla Model S cars in July 2016 to test the “One Car, One Colour, One Price” concept. By December 2016, it was clear that a significant rollout was possible, and a pan European brand could be built. In January 2017, a further two sites were opened at Manchester and Edinburgh airports with Gatwick opening in September 2017 and Canary Wharf coming on stream in early 2018.  Due to excellent early traction, the directors raised £1.2m in new equity capital in January 2018 via Crowdcube and Regency Mines PLC to roll out the concept across other major European airports. Whitecar opened its first international outlet in Oslo airport in May 2018, with the next two being Frankfurt and Munich airports. By the end of the current financial year in February 2019, the company expects that it will have 14 outlets in 8 countries and by Year 5 of the financial projections, it expects to have 62 outlets across Europe. 

By August 2018, financial projections show a fleet of at least 33 cars. Due to the success of the new iOS and web booking app, excellent service reviews, an increasing brand reputation and careful handling of online advertising, Whitecar is experiencing its busiest period to date. Revenues in the first three months of this financial year are 254% up on the same period last year with revenues of £144K.  

P1190457 c
Deal Manager avatar

Deal Manager
Mark Strachan

  • Sector: Consumer / Retail
  • Region: UK: London
  • Stage: Established - existing revenue, pre-profit
  • Eligible Tax: Not Applicable
  • Board Requirement: Board In Place
  • Pre Money Valuation: £7,800,000
  • Share Price: £0.40
  • Originator: Envestors
This section is currently locked.
Please Sign Up or Log In to unlock.

Team

This section is currently locked.
Please Sign Up or Log In to unlock.

Market

This section is currently locked.
Please Sign Up or Log In to unlock.

Investment

This section is currently locked.
Please Sign Up or Log In to unlock.

Discussions

This section is currently locked.
Please Sign Up or Log In to unlock.

Deal documents

This section is currently locked.
Please Sign Up or Log In to unlock.

Originator


Originator: Envestors

Investment Focus: Equity and Debt

About: Envestors is a FCA regulated corporate finance adviser in the UK and operates an international network of sophisticated investors investing a minimum of £25,000 in high growth unquoted companies seeking £250,000 to £2m in equity funding. Envestors是英国受FCA监管的企业金融顾问同时运营着一个国际化的资深投资人网络,为高速发展的公司寻求最低为£25,000的现金投资,£250,000到£2m的股权投资。

Contact Name: Oliver Woolley

  • Registered Investors
    Over 1000
  • Investment through platform
    Over £100m