Drive.SG operates an online portal that aggregates about 50 car rental companies in Singapore to offer short- and long-term leases. Founded in 2011, the startup currently serves about 15,000 customers. Leasing is especially in demand in Singapore because Certificates of Entitlement are expensive and the government has placed financing restrictions on car purchases. Drive.SG was part of NUS Enterprise’s startup incubation program. The company raised SGD 1 million (about USD 790,000) in a Series A from Insas Berhad and will use the capital to expand across Asia. It plans to launch in Malaysia and the Philippines by mid-year and to add mini-coach and limousine services in addition to car rentals.

Total raised

$1M

Funding rounds

1

Latest round

Series A

Latest activity

Mar 2014