Carbar plans to use the capital raised to expand its vehicle subscription model while supporting the growth of its online car trading platform. Going forward, the company plans to expand its services to new cities across Australia.
The Car Subscription Solution service from these two companies will allow dealerships to have a new revenue stream and provide their consumers to search through cars already within the dealer's inventory.
Genesis is now growing into the Australian marketplace. This takes the MotoCommerce from Motoinsight into a new market and the company says they are now operating within Australia, Canada, and the United States.
YourDrive operates across New Zealand, but most of the 250 or so vehicles on its books are in Auckland and Wellington, founder and CEO Oscar Ellison says - and those cities are getting the automated system first.
FiveAI's size not only means it's likely to have fewer cars on the road compared to companies like Uber and Google, it also lacks the name-recognition of those brands, which have been caught up in a backlash against big tech.