Co-Founded by Graeme Risby and Rob Lamour in 2013, hiyacar is a P2P car sharing platform focused on providing car owners the ability to generate revenue from drivers in their local communities by sharing their idle cars. Hiyacar is a technology enabled automotive company and is initially focussing on targeting urban locations, primarily London.
The company spent its first two years preparing the platform and testing the market. In August 2014, AON began to source an insurance product for hiyacar and by 2015, AXA agreed to provide hiyacar with an exclusive insurance product. Hiyacar began to trade in late 2015 and following their second round of investment in late 2016, the team began to scale transactions and develop a second version of the platform in house.
During 2016 hiyacar identified that the biggest challenge to generating revenue from idle cars was that the car owner wasn’t always present to hand over the car key to the driver. This led the team to launch QuickStart, a keyless solution based on technology exclusively licensed from a European partner. QuickStart provides drivers access to cars without the car owner being present, improving the user experience and revenue growth.
Currently, the company operates with a B2C and B2B model. In urban locations where there is a high population density, hiyacar targets customers directly. However, in rural areas, hiyacar is focussing on forming partnerships to generate revenue. At present, hiyacar has a virtual fleet of over 2,000 cars, with 1,700 in London (compared to ZipCar’s 1,100) and has facilitated 30 years of hire time and formed its first B2B partnership in November 2017.