NexTransfer raises $1m to fund growth

Find-a-free-rental-car website raises $1 million

NexTransfer, the company behind the Transfercar online service that enables people to get free use of vehicles that rental companies need to move between locations, has raised $1m in equity funding from a round led by Flying Kiwi Angels.

James Hoseason, a founder member of Flying Kiwi Angels has been appointed a director of NexTransfer.

Transfercar was founded in New Zealand in 2008 and the company now has operations in Australia, the US and Canada. Last year it launched a new business: Transfervans, an on-demand service that allows people in Auckland or Sydney to arrange time-specific delivery of bulky items. 

Founder and CEO Brian Karlson said the funding would enable the company to grow both the Transfercar and Transfervans services internationally. He said the company now employed 15 people and had revenues in excess of $1.4 million.

Hoseason said: “Both Transfercar and Transfervans have demonstrated a fantastic level of market traction and genuine customer-demand; couple that with very solid growth and a smart, motivated team and this looks like another winning Kiwi company.”

The number of free rentals available on the company’s New Zealand site in comparison to those in Australia and North America suggests that the company has considerable potential to grow.

On 29 August Transfercar’s NZ site www.transfercar.co.nz had more than 560 vehicles available, its Australian site www.transfercar.com.au 211 and its US and Canada site www.transfercarus.com, 184.

 

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