- WheelsOn raised $12.5 million in new funding, bringing its valuation to around $30 million.
- The company will use the funds to expand its fleet, develop AI-powered products, and introduce digital car keys.
- Founded in 2023, WheelsOn offers a fully digital car rental experience through its app and website
WheelsOn, the UAE-based digital car rental platform, announced the closing of a new $12.5 million funding round. The round included $2.2 million from regional investors, $6.5 million allocated to fleet expansion, and $4 million from local banks. With this funding, the company’s valuation has reached around $30 million.
The company explained that the investment will support the expansion of its fleet, accelerate product development, and strengthen its market presence. It also plans to launch AI-powered dynamic pricing tools to optimize fleet utilization, along with personalized recommendation systems for vehicles, insurance, and rental periods based on user preferences.
Among the innovations WheelsOn is working on is the introduction of digital car keys, enabling users to securely and conveniently access their vehicles through smartphones.
WheelsOn stands out by owning and managing its own fleet, giving it greater flexibility in pricing and ensuring maintenance quality. Its fleet system leverages internal tracking and management technologies that allow for proactive maintenance scheduling and real-time vehicle monitoring.
The company offers a variety of services, including flexible monthly rentals, premium car rentals for businesses and events, as well as car delivery to airports and hotels.
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