Since its official launch in March this year, Lolocar, the innovative Chilean carsharing startup, has seen rapid growth in the use of its platform for vehicle rentals, achieving over 2,500 rental days to date. With approximately 250 cars available across the country and more than 3,000 app downloads, Lolocar is now expanding its services into Uruguay.
Lolocar has already forged a partnership with Banco Seguro del Estado in Uruguay and is in talks with dealerships to ensure a broad selection of vehicles. Additionally, it has partnered with Ingenio, a local entrepreneurial organization, to facilitate its market entry. For online payment processes, Lolocar will be utilizing Mercado de Pago in Uruguay.
Founded in 2021 by Enrique Cabo, Rodrigo Haiquel, Felipe Ortúzar, and Magdalena Cabo, the app and platform offer a person-to-person carsharing service, enabling easy, fast, and secure vehicle rentals while providing additional income for vehicle owners.
"We are currently in a strategic growth stage and have scheduled our first investment round for December this year, projected between US$300,000 and US$600,000. These funds will be allocated to enhance the platform, strengthen our positioning in Uruguay, and drive our expansion into other countries: Colombia, Peru, and Brazil." -Felipe Ortuzar, co-founder of Lolocar
The company anticipates that by the end of 2023, it will have over 3,500 vehicles available and over US$50,000 in revenue generated for vehicle owners.
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