Photobox founders invest in HiyaCar

Photobox founders invest in HiyaCar

Photobox cofounders Mark Chapman and Graham Hobson have invested in the new person-to-person car-lending platform HiyaCar on equity crowdfunding platform Seedrs.

HiyaCar has been trading since February and has already raised more than £550,000 with over 400 investors across two successful crowdfunding rounds.

The firm is a new player in the sharing economy but has bold plans to make a big impact on their competitors with the latest investment and advice on expansion from Chapman and Hobson.

Mark Chapman, cofounder of Photobox, said: “I'm delighted to be making an investment in HiyaCar.

"I believe a great combination of well thought out strategy and an able, passionate team will deliver a leading business in what is a rapidly developing market.”

The service, hailed as ‘the Airbnb for motor vehicles’, aims to turn the millions of private cars sitting idle on drives and streets into a virtual fleet of cars for hire.

This gives hirers more choice, convenience and value for money, whilst car owners are able to turn their car into a second source of income that could even pay for the cost of the car.

HiyaCar cofounders Robert Larmour and Graeme Risby said: “We are delighted that Mark and Graham have invested in HiyaCar alongside the hundreds of Seedrs investors.

“To have such respected, high-calibre entrepreneurs who really understand the space is a massive vote of confidence.

“Photobox has given Mark and Graham first-hand experience of building a leading online marketplace.

“Their knowledge and input will be an invaluable contribution to HiyaCar and we are thrilled that they are joining us on this exciting journey.”

Risby added: “HiyaCar aims to disrupt the US$60bn global car hire industry, which in the UK of more than 10 million car hires in the last 12 months.

“We want to empower communities to build better lives, by enabling more financial freedom by sharing an idle asset as well as giving users the freedom to hit the open road when they’re not previously had easy access to a car.

“It is an exciting and socially rewarding sector to be a part of."