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GroVenitve completes GBP1.4m funding into Coastr

GroVentive has completed a successful investment in Coastr, a Scottish technology startup, which enables car hire firms to become fully digitalised via a cloud-based “all-in-one” vehicle rental management platform delivering keyless entry, remote vehicle immobilisation, and real-time fleet monitoring. 

The Edinburgh-based company plans to launch additional products into the market in 2022 such as on-demand fleet insurance, integrated vehicle financing and connectivity to market aggregators and booking platforms.

It has partnerships in place with Volkswagen Financial Services (VWFS) and existing customers include UK van rental company Herd Hire Group.  Industry partners include Stripe, Sage, and Elavon. The company also plans to launch its own branded mobility services platform, working with rental partners to utilise networks and spare capacity.

Biswajit Kundu Roy, Coastr CEO, says: “Coastr are delighted to conclude this round of funding through GroVentive.  The funding will helps us deliver our vision, which is to enable vehicle hire operators and help the end customer cut through queues and paperwork to avail a seamless rental experience that is suited for the 21st century,”

Bruno Pannetier, CIO of GroVentive, says: “We are very excited to have completed the funding for Coastr and we feel the company is positioned to significantly disrupt the car rental sector with its unique technology and product offering. We look forward to supporting the Coastr management on their high-growth trajectory.”

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