Romanian peer-to-peer car rental platform to expand on five European markets in five years

Within five years, Romanian peer-to-peer car rental platform Perpetoo plans to operate on five markets in Europe, and to reach over 50,000 cars registered and over 500,000 users, Aurelian Marin, co-founder of the business told Ziarul Financiar daily.

The platform was launched in the autumn of last year following an investment of EUR 450,000, which will be supplemented by EUR 300,000 during 2020. Marin estimates that, by the end of this year, the platform will generate a total of EUR 1.5 million in revenues, of which the company’s commission will represent about a fifth, the rest going to the owners who put their cars up for rent through the platform.

Cars can be rented for several hours - at least 6 hours, but on average, Perpetoo users prefer to rent a car for a minimum of 3 days.

“In terms of mobility, the younger generation is no longer so motivated to buy their own car. The car involves a high cost of purchase, a strong devaluation in the first 4-5 years and very high maintenance costs,” stressed the entrepreneur.

Perpetoo service was launched simultaneously in four cities in the country - Bucharest, Cluj, Timişoara and Iaşi.

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