UAE - Mubasher: WheelsOn, a UAE-based mobile-first car rental platform, has secured $12.50 million in funding, bringing its valuation close to $30 million, according to a press release.
The round comprised $2.20 million in equity from MENA-focused private investors, including partners of Xploration Capital, a total of $6.50 million allocated for fleet expansion, and $4 million in bank financing.
The funds will be used to grow WheelsOn’s fleet, accelerate product development, and expand market presence.
Maxim Olivson, CPO at WheelsOn, commented: “Our mission is to rethink car rentals by offering full transparency, digital convenience, and a product that puts users in control.”
“We remove deposits completely, eliminate paperwork and counter queues, and give customers a seamless experience all through our intuitive mobile app and website,” he added.
Unlike aggregator platforms, WheelsOn owns and operates its fleet, supported by a proprietary tracking system that allows real-time monitoring, proactive maintenance, and transparent pricing without deposits or hidden fees.
Founded in 2023 by Nikolay Melnichuk and Adlet Shagirov, later joined by Maxim Olivson as CPO, the platform targets locals, businesses, and tourists with multilingual support and flexible rentals.
It provides services to a diverse audience, offering multi-language support in English, Arabic, Chinese, and several European languages, including French, Italian, Spanish, and German.
Over the next few years, WheelsOn intends to reinforce its operations in the UAE and expand to other Gulf countries where travelers and residents face similar rental frustrations.
The company aims to scale its active user base to tens of thousands and to substantially increase its fleet capacity, meeting the increasing demand for transparent, flexible, and convenient car rentals.
