A new specialist price comparing platform company, based out of South Wales in the UK, recently fund raised £500,000 and is preparing to move into and disrupt the UK car leasing industry.
Moneyshake.com helps people find the best lease deals quickly by comparing prices from the UK’s leading providers.
The £500,000 equity investment has been provided by the Development Bank of Wales and serial entrepreneur Tim Scholes, a private investor and experienced strategy professional.
Car leasing continues to rise in popularity as people desire new cars more frequently and leasing is seen as the future of car ownership. Typical leases range between 18 and 36 months. Vehicles are handed back to the leasing providers at the end of a contract.
Research from the British Vehicle Rental and Leasing Association (BVRLA) reveals there are more than 5 million leased cars on the road in the UK. Last year, the consumer car market saw the highest level of growth in the leasing sector at 14%.
The company is currently a team of four employees and is now looking to expand significantly during the next 12 months creating a range of senior technology, marketing and management jobs in Wales.
Eben Lovatt, CEO of Moneyshake, said: “As more people turn to leasing rather than buying a new car our business can only grow. We had a fantastic response from the investment community when we did our funding round.”
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