Startup MyMonthlyCar Aims to Monetize Idle Used Cars Through Monthly Rentals
MyMonthlyCar, a new startup founded by Ukrainian entrepreneurs Igor Dobrianskyi and his team, is developing an online platform that connects car dealerships with consumers seeking month-to-month rental options. The company aims to reduce the depreciation of used cars sitting on dealership lots while offering more flexible alternatives for renters who may eventually purchase vehicles. MyMonthlyCar charges a 10% fee from both customers and dealers per transaction but does not charge dealerships to list their inventory. The startup has already secured seven dealer partners and is finalizing an insurance program, which it views as critical to its business model. The founders project $300,000 in revenue during the first year of operations once the platform launches later this year, with a long-term goal of reaching $42 million over five years. MyMonthlyCar has been selected for TechCrunch’s Startup Battlefield 200 and will showcase at Disrupt next month.
Topics: automotive car rentals startups used cars