Finalrentals raises a six-figure sum from a syndicate led by Eamon Tuhami and Fuel Ventures to scale its operations.
The funding round was led by business angel Eamon Tuhami alongside Fuel Ventures and matched by the Development Bank of Wales.
Finalrentals operates a global online car rental web application designed to help local car rental providers manage and scale their operations. Based in Penarth, the firm serves clients across multiple international markets.
Finalrentals has secured a six-figure investment from a syndicate of business angels and Fuel Ventures. The round was led by Eamon Tuhami and matched by the Development Bank of Wales through its Wales Angel Co-Investment Fund. The capital will support the company as it scales its digital car rental platform and expands its market reach.
Established in Dubai before relocating to Wales, the firm provides software solutions for independent car rental businesses globally. The latest funding follows participation in the FinTech Wales Foundry accelerator programme and aims to build upon the company's international footprint across regions including North America and the Middle East.
From the founder
"From Pakistan to Dubai then Poland to Cardiff, this has been a three year journey that started in my home garage fondly known as the ‘Gar-Office’."
Ammar Akhtar
Founder and Chief Executive at Finalrentals
Investor perspective
"I was surprised to learn that 52% of the world’s car rental companies are small businesses who struggle to take and make orders online. Ammar and his team have built an innovative platform which has global reach and is already making a difference. It’s been a pleasure to connect him into the ecosystem, see him part of the FinTech Wales Foundry program and introduce him to other angels and funds. I warmly welcome him and his family to Wales and believe that this is just the beginning of something very exciting."
Eamon Tuhami
Founder and General Partner, Eamon Tuhami
Use of funds
- 01Fund acquisitions
Investors
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About the company
Finalrentals
Finalrentals provides an online car rental web application for local operators.