Finalrentals expands its franchising globally, plans to raise $20 million

Finalrentals – a car rental marketplace that was founded by Ammar Akhtar, and is the largest car rental marketplace in the UAE, as reported by TechJuice previously, is now franchising its brand.  

The COVID-19, though a cause of the significant downturn in markets everywhere, has helped us evolve to become leaner and a much better company. It is the time for us to change things around and emerge as a clear winner. 

• We have now been evolving our business model to become a fully-fledged car rental brand by extending to new markets globally through franchising. 
• We are not onboarding any company with less than 4 locations or less than 1,000 hirable rental cars.  That makes it an excellent deal for the end consumers who will have nearly unlimited choices. 

“To fuel this global growth, we are raising $20M this year, and within another two years, will be gearing up for our first-ever IPO on the Pakistan Stock Exchange. Subsequently, within a total of five years from now, we will be aiming for a secondary offering on the NYSE,” said Ammar Akhtar,  Founder & CEO of Finalrentals. 

So how exactly does the Finalrentals franchise model work? 

If a potential franchisee fulfills the requirements to own a Finalrentals franchise, it will first receive our set of brand guidelines. However, it will have total flexibility in using our brand at their locations.  Every franchisee will receive the award-winning digital platform called “Finalrentals Blade,” which includes, among other things, a mobile app to process 100% of the bookings digitally. As part of the program, all franchisees will receive specialized training on using our systems. 

As we are a platform essentially, that will make us the only digital car rental brand in the world to franchise our operations without owning a single car. 

Where has Finalrentals launched already through franchising? 

Currently, our franchises are fully operational in Malta and Ireland, and the implementation is already underway in Poland, Italy, and Spain. We will be glad to franchise our business in Pakistan, hopefully leaving no country out in the end. 

How can a company reach out if it wants to become a Finalrentals franchisee? 

The process is quite simple. We have a web page where potential franchisees can express their interest. They can find the link here, and we are currently open to interest from car rental businesses in all countries. We are excited for the car rental industry’s future in the post-pandemic world, and we are looking forward to making it much better.