HiGear operates a peer-to-peer car-sharing marketplace focused exclusively on high-end brands such as Mercedes, BMW, Audi, Aston Martin, Lamborghini and Tesla. The company provides comprehensive liability and collision insurance, member screening (including driving-record and sometimes credit checks), and collects a security deposit to encourage safe use. Owners can rent their cars at roughly 50% off commercial rates; drivers pay a rental fee ($125–600 depending on the car) plus $20–40 per day in rental insurance. The average rental period is about three days, with an average transaction around $410. HiGear currently reports an inventory of 200+ cars and is adding 50+ vehicles per month. The company is expanding geographically, launching in Los Angeles on November 1 and planning five additional markets, including Portland and San Diego, by year-end.

Total raised

$1M

Funding rounds

1

Latest round

Seed

Latest activity

Oct 2011