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Australian peer-to-peer car sharing startup Car Next Door wins national recognition as a ‘Business of Tomorrow’

April 12, 2017 Motoring No Comments Email Email

Australian sharing economy start-up Car Next Door has just been named one of 200 outstanding businesses that have the drive to boost the nation’s future as Australia transitions to a services and knowledge-based economy, as part of Westpac’s Businesses of Tomorrow program.http://www.rembrandtbkk.com/

The Car Next Door technology and online platform makes it easy and safe for Australians to unlock the idling capacity of their cars. By listing cars for sharing on carnextdoor.com.au, car owners can make money while also helping reduce the number of cars needed in Australian cities.

Operating in Sydney, Melbourne and Brisbane metropolitan areas, Car Next Door has more than 870 cars registered on the platform and over 30,000 screened members signed up to borrow them.

Car Next Door’s capital-raising strategy saw a $2.5 million investment from Caltex and $1.3 million raised from venture capitalists and individual investors in the Series A round. The company is now gearing up for a Series B capital raising round later this year.

“Over the last four years, we’ve proven the strength of our car sharing platform and now we are squarely focused on growth,” said Will Davies, CEO and co-founder of Car Next Door.

“Being recognised as a Business of Tomorrow during this pivotal time is a huge win,” he said.

“By 2020, we aim to have turned 10,000 ordinary cars, utes, and vans around Australia into shared vehicles, putting a shared car within five minutes’ walk of everyone living in metro areas.”

“We see shared, connected vehicles on demand as the future of personal transport in Australia. We want to bring about a mass ‘de-car-ing’ of Australia’s cities, using technology to enable people to share their idle cars.”

David Lindberg, judge and Chief Executive, Westpac Business Bank, said:

“Car Next Door has created an innovative solution to address a key customer need – transportation in consideration of the environment, community and the individual. The company’s entrepreneurial mindset to create shared value by connecting people who under-utilise their cars with others who need one, makes them a superb example of a Business of Tomorrow.”

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