Show Me the Money

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Show Me the Money

The owners of FlightCar, a service that organizes the rental of private vehicles from airports, have just scored a $13.5 million investment deal with GGV Capital. The money will be used for expansion to Seattle and other airports.

FlightCar offers a simple, symbiotic process for travelers who need to leave cars in airport parking and those who need to rent cars while away from home. Car owners sign up with FlightCar and leave their cars in the company’s lot while they travel. Renters, pre-screened by FlightCar, designate the class of vehicle they want and pick it up at the airport. Owners avoid parking fees and get paid for the use of their cars.

CEO and co-founder Rujul Zaparde recalled to VentureBeat that he was sitting with co-founder and president Kevin Petrovic in the winter of 2012, talking about Airbnb. “If your most valuable asset is your home,” he said they reasoned, “the second is your car.”

It’s a fascinating idea, this company that runs on gasoline and trust. I don’t know a lot of people who’d be willing to lend out their cars to total strangers. But FlightCar is making it work and has the investment interest to prove it.

Read the article here.

John Van Horn

John Van Horn

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