Dubai-based pay-per-minute car rental startup Ekar has raised $17.5 million in a Series B round, the startup announced today, saying that the round was closed in June earlier this year. The round was led by Dubai-based Polymath Ventures and joined by Al Yemni Group and Audacia Capital.
Founded in 2015, Ekar enables users to rent cars by minute, hour or day through its mobile app (available for both Android and iOS) in the United Arab Emirates (and now in Saudi). The users after downloading the app have to register themselves with a valid driving license, ID, and a valid credit card.
The startup today has also announced that it is expanding to Saudi Arabia with the launch of its operations in Riyadh. Saudi is the first international market for Ekar. Ekar that’s launching with 600 cars in Riyadh also plans to expand to other cities of Saudi including Dammam, Jeddah, Mecca, Medina, and KAEC (aka Rabigh) in the future.