Car rental service Drive.sg raises almost $800,000, plots Asia expansion
Singapore-based online car rental marketplace Drive.sg has raised $790,000 (SGD 1 million) in a Series A round from Insas Berhad, an investment company in Malaysia.
Drive.sg will use the fund to expand its service to other Asian markets – beginning with Malaysia and Philippines. The online reservation sites for both of these countries will be ready by mid-2014 and will also offer rental of mini-coaches and limousines.
In January 2013, the company announced a seed investment for $157,000 from private investor John Tan.
The company’s service include online car rental for short-term, long-term and chauffeur driven services.