Skurt secures $10 million in funding

Date: 22 FEB 2017posted by Car Rentaledited by WinX

The Los Angeles based on-demand car rental company has secured $10 million in funding in its Series A round with Upfront Ventures leading. It also included a strategic investment from BMW, as well as additional funding from Troy Carter's Cross Culture Ventures, Expansion VC, Greycroft and Magic Johnson.

So, what is Skurt?

The company was founded in 2015. It gives iOS and Android users a platform to rent a car and have it delivered within an hour to a designated location. When finished, the company will send an agent to pick up the vehicle anywhere in the city. Renters only have to be 21 with two years of driving experience and there are no fees associated with age when using Skurt. With such easy restrictions on age, it comes to no surprise 80 per cent of Skurt's customers are millennials. Unlimited miles are included with every rental and any missing fuel will be automatically charged to the card on file. Cleaning is not required, but any big messes, spills or smells that require detailing will incur a detailing charge, that goes to say smoking is not allowed unless you wish to pay for the detailing costs. Adding additional drivers will require the additional drivers to have the app themselves and you will only have to contact the company directly to let them know of the additional drivers.

Rentals start at $21 a day on a sedan to $59 a day for luxury vehicles. The most up to date pricing and availability will be displayed on the app itself. The vehicles that are supplied will be under two years old. Skurt, itself owns no inventory of vehicles, the company fills their inventory by partnering with fleet owners and they allow owners to sign up on their site. It ranges from auto manufacturers with excess inventory to dealerships or traditional car rental companies. The business model is kind of in between a traditional car rental company and a peer to peer service. The benefits of this model allows their rental vehicles to always be new and may be more reliable than some peer to peer rental models since fleet vehicles are more often regulated with maintenance and check-ups. Skurt currently operates in Los Angeles, San Diego and Miami and has claimed to have already delivered "tens of thousands of cars." Although the company has not named any specific cities, they say they intend to spend the funds on expanding to other major cities in the US, expanding fleet partnerships and hire new people.

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