Drover is a London-based car subscription startup that offers all-inclusive car subscriptions for both everyday and private-hire drivers.
Founded in 2015 by Felix Leuschner, Matt Varughese, and launched the following year, Drover wants to give its customers a more flexible access to cars by bridging the gap between short-term car rental companies and long-lease suppliers. The company provides a car-as-a-service platform with monthly, all-inclusive car subscription options. Their technology platform aims to be a one-stop-shop for both drivers needing vehicles and vehicles suppliers, and the services it offers include predictive maintenance, PCN management, telematics integration, background checking and digital driver onboarding, a built-in mechanism for payments and invoices, plus an extensive insurance offer for every booking. The platform lets drivers choose their favourite vehicle and keep it as long as they want to, from a minimum of one month, to a maximum of 24. It also gives them the option to swap cars and cancel bookings, and upgrade or downgrade their chosen subscription as life changes. Compared with other leasing services, the platform doesn’t charge for deposit or down-payment, asking users to pay a one-time joining fee only.
The marketplace company, headquartered in London, but with a second team based in Lisbon, wants its customers to experience car ownership in the most flexible way, at a fair and transparent price, with no surprise costs and downpayments. At present, the company is focusing on growing and establishing car subscription as a defining industry category.
Drover and COVID-19
The company hasn’t stopped working during the UK lockdown, and is committed to keep working throughout difficult times so that drivers needing a car can keep moving. Adjusting to pandemic recommendations, Drover is now offering a 100% online booking process with safe deliveries within 7 days. On delivery, the company ensures all vehicles are cleaned and disinfected by a trained agent. In support of the healthcare system, the startup is also offering carers 50% off their joining fee.
Drover has just announced a £20.5 million funding round to scale up its service and expand to Europe. The Series A round was co-led by Target Global, RTP Global and Autotech Ventures. Other investors include Channel 4 Ventures and Rider Global, and previous backers like Cherry Ventures, BP Ventures, Partech, Version One and Forward Partners. Drover, who has not yet disclosed valuation, will be using the fresh capital to scale its car subscription service across the UK, as well as in France, where it launched its offerings earlier this year.