Qanda Technology signs Peer-to-Peer vehicle rental deal with McMillan Shakespeare Group
Announcement posted by Bradford Public Relations 23 Oct 2014
SYDNEY, October 23, 2014: Qanda Technology Ltd (ASX: QNA) today announced that its DriveMyCar Rentals business has signed an agreement with Interleasing (Australia) Limited, a wholly owned subsidiary of McMillan Shakespeare Limited(ASX: MMS), for Interleasing vehicles to be rented through the DriveMyCar Rentals peer-to-peer marketplace.
The deal will see late model ex-lease vehicles owned by Interleasing rented to private drivers via DriveMyCar Rentals, allowing Interleasing to extend the income generating life of their vehicles and benefit from a secondary revenue stream.
Interleasing (Australia) is one of Australia’s most successful vehicle leasing and fleet management specialists with more than 25 years industry experience.
DriveMyCar Rentals, Australia’s leading peer-to-peer car rental marketplace, makes it possible for vehicle owners to rent them securely to other drivers and manages the marketing of the vehicles, credit and ID checks and processes payments. Prices are typically 20% - 50% cheaper than traditional car rental companies.
Qanda Technology CEO, Chris Noone said the addition of the Interleasing vehicles will enable DriveMyCar Rentals to rapidly increase its revenue and market coverage as demand for vehicles already exceeds current supply.
“DriveMyCar Rentals pioneered the rental of vehicles between private individuals and this is deal proves that peer-to-peer marketplaces can also deliver benefits to companies with under-utilised assets.”
“Interleasing manages fleets of vehicles throughout Australia and has both the scale and geographic footprint to serve DriveMyCar Rentals growing demand from renters across Australia,” Mr Noone said.
“DriveMyCar Rentals has been able to provide a solution to Interleasing that increases the financial returns from vehicles that would otherwise be sold before their income generating potential was maximised,” he said
Abe Tomas, Managing Director of Interleasing, said working with Qanda Technology and their peer-to-peer marketplace DriveMyCar Rentals would provide immediate benefits.
“Collaborative Consumption and increasing the utilisation of assets results in better outcomes for all parties and DriveMyCar is a leader in this space in Australia,” Mr Tomas said.
“DriveMyCar’s platform, system and processes will enable Interleasing to fully maximise the value of these vehicles,” he said.
Media Contact:
Chris Noone
CEO, Qanda Technology
Ph: 0410 550 485