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Since the beginning of last year, TravelerCar has been partnering with MAIF to acquire a custom insurance solution that works with the unique needs of this business. Now, MAIF and other funding partners have contributed $5.6 million in funding to help take TravelerCar further, as reported by Robin Wauters in the VentureBeat article, "TravelerCar raises $5.6 million to expand peer-to-peer car sharing business". As this business, which was built by Paris Founder Institute Graduate Ahmed Mhiri, takes on the additional funding, it will be able to grow the business further than ever before.

The Background

TravelerCar is aimed at providing a new level of convenience for travelers--both those coming into the area and those leaving it. It aims at creating free parking opportunities at train stations and airports while reducing overcrowding in those areas by providing travelers with the opportunity to rent out their vehicles to those who are coming into the area. Individuals traveling through Paris and other areas served by TravelerCar are able to acquire less expensive rentals that will enable them to easily return the vehicle at the end of their trip, dropping it back at the same location they arrived from so that the returning traveler can pick it up and be on their way.

TravelerCar is a peer-to-peer vehicle sharing opportunity that permits travelers to make the most of their vehicle. Why leave it sitting, unused, while on vacation or out for business? Now, TravelerCar offers the opportunity to make money from that unused vehicle.

New Expansion

With this new funding, TravelerCar will be expanding its reach throughout Europe. Currently, TravelerCar provides services in France, Switzerland, Belgium, and the Netherlands. New expansion has the potential to move into Canada as TravelerCar doubles its existing workforce and seeks to serve more areas.

TravelerCar provides a number of benefits to the people who choose to use it. "We take care of everything," assures founder Ahmed Mhiri. TravelerCar users are guaranteed free parking regardless of whether or not their car is leased. If they do manage to lease out the vehicle, they are paid for every kilometer the car is driven. Renters, on the other hand, experience approximately 50% savings over traditional rental arrangements. "We kept the quality of service of traditional agencies, with the ability to instantly rent a car or add options like GPS, while remaining in the sharing economy," Mhiri says. TravelerCar also automatically provides insurance whenever the vehicle is rented out, offering owners the assurance that their car will be well taken care of while they're on vacation. This smart business model will grow with TravelerCar through the coming expansion.

The business has certainly found its niche. As it expands rapidly, with the number of cars and willing drivers increasing by the year, it's clear that TravelerCar has the potential to take off. There's even talk of expanding into vehicles parked in residential areas. After all, many cars spend the bulk of their time sitting in a garage or driveway, unused. TravelerCar proposes that their owners put those vehicles to good use, renting them out to travelers or even those down the street who simply need a temporary vehicle.

While it's unclear just how far TravelerCar will be able to expand, it is obvious that this unique business model offers plenty of opportunity for travelers throughout Europe. The growing business provides the peer-to-peer model that more and more people are seeking while capitalizing on assets that many travelers didn't even realize that they have, giving it a niche market that is easy to reach. Thomas Ollivier, who works at TravelerCar partner MAIF, says, “By partnering with TravelerCar, we are becoming part of a borderless, more collaborative society.” This expansion will help grow the borders of TravelerCar and take the business further than ever before.

Click here for more information on TravelerCar's unique service.

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