Finalrentals raises six-figure pre-series A funding to expand its AI-powered car rental platform

UK-based car rental tech startup Finalrentals has raised a six-figure Pre-Series A funding round as it looks to expand its global presence and enhance its AI capabilities, the company said on Monday. The latest investment pushes the company’s total funding past seven figures, following an initial round in 2022 that supported international growth and revenue gains.

The funding was led by the E100 London Business School Angel Syndicate, with participation from individual investors in London and the U.S., along with existing backers who increased their stakes.

Founded in 2019 CEO Ammar Akhtar, Finalrentals has positioned itself as a technology-first player in a traditionally offline industry. With this latest round of funding, the company is betting that demand for streamlined car rental experiences will continue to grow as travelers seek more flexible and localized options.

Ammar Akhtar set out to solve a problem he knew all too well—small car rental companies struggling to compete against industry giants. After spending 17 years working with major players in the space, he saw how large corporations dominated the market, leaving independent businesses with little visibility on mainstream platforms.

“This unfair imbalance sparked my vision to create Finalrentals—a powerful network designed to unite local and regional car rental companies,” Akhtar said. “Finalrentals empowers these smaller businesses, giving them a global presence and levelling the playing field in a way that had never been done before.”

Finalrentals connects local and regional providers to a broader audience, helping them operate on the same playing field as larger brands. Instead of being squeezed out by corporate dominance, these businesses now have a platform designed to make them more accessible to travelers worldwide.

Fueling AI and International Growth

Finalrentals has reported a 300% increase in year-over-year revenue since its last funding round, tripling its income while entering more than 30 international markets. The company now partners with over 500 local car rental providers, connecting them with customers through its online platform.

The new capital will go toward improving the platform’s AI-driven automation, accelerating product development, and expanding into Europe, the Middle East, and North America. The company also plans to grow its workforce by 40% to support its international operations.

CEO: “We’re Focused on Growth”

Finalrentals CEO Ammar Akhtar said the company aims to make car rentals more accessible while supporting smaller, local providers. “With this investment, we can give more rental companies the tools they need to compete globally through technology and automation,” Akhtar said.

Shaking Up a $100 Billion Industry

The car rental market, valued at around $100 billion, remains fragmented, with many smaller businesses lacking the digital infrastructure to compete with larger brands. Finalrentals’ platform aims to address that gap by providing a centralized booking and management system for local companies.