Car 2 U secures £135,000 to accelerate growth
Vehicle hire company secures investment
Niche vehicle hire company Car 2 U has secured a £135,000 investment from the Finance for Business North East Accelerator Fund to create jobs and expand its fleet.
The Washington-based car rental company supplies dual-control cars and 4x4s, as well as commercial vehicles with tow bars, to private customers, driving schools and accident management companies on a daily hire basis. Northstar Ventures, which manages the Accelerator Fund, will see its investment create back-office and sales jobs, as well as allowing Car 2 U to expand into commercial sectors to provide vehicles for work and leisure purposes. Car 2 U will put the rest of the funding to further developing its bespoke software, which will improve the efficiency of the business.