CarTrawler secures funding to drive its expansion plans
Company scoops investment worth around €100m
CarTrawler, the car rental distribution system provider, has secured investment worth around …100m from ECI Partners (ECI) to continue its aggressive expansion plans.
According to CarTrawler, which was founded in 2004 by Greg and Niall Turley, the funding from ECI will be used to support the continued growth of the business – organically and through acquisitions.
As part of the deal the co-founders will retain non-executive director and director roles and remain significant investors in the business. Former chief executive officer Mike McGeary will become the new chief executive and will lead the next stage of the business’s development.
CarTrawler enables consumers to search for real-time car rental prices and availability, and now distributes rental cars from 28,000 city and airport locations across 175 countries. Commenting on the deal Greg Turly said: “CarTrawler has been an exciting journey for both Niall and I and we look forward to seeing the business continue to go from strength to strength under Mike’s leadership.
“We have built up a strong team over the last seven years and we are delighted to have found an investment partner in ECI who I feel confident can help maximize the potential of CarTrawler.”