8 years ago

Drover Secures £5.5 Million for Car Subscription Marketplace

  • Drover, a London-based startup offering a car subscription service as an alternative to car ownership, has raised £5.5 million in Series A funding led by Cherry Ventures, Partech and BP Ventures

  • The round adds to a previous £2 million pre-seed investment from Version One and Forward Partners

  • Drover's platform allows users to subscribe to a car with a single monthly payment covering vehicle access, insurance, road tax, maintenance and breakdown cover

  • The company operates a marketplace model, partnering with fleet providers like Europcar, Avis Budget Group and Hertz, car dealership groups, and OEMs, including BMW Group UK

  • The funding will be used to scale the business and invest in engineering and product development.

      • ProblemTransportation

      "Car ownership is expensive and inflexible. You're stuck with a car you may not need, for years, and you're responsible for all the costs."

      Solution

      "Drover offers a monthly car subscription that includes insurance, road tax, maintenance, and breakdown cover. You can swap, upgrade, or downgrade your car monthly, or just cancel altogether. No long-term commitment or steep upfront payments."

      Covered on