Vehicle leasing comparison website Lease Fetcher raises £300,000 seed funding

The Glasgow-based business will use the injection of cash to accelerate the development of its comparison engine and to launch in the UK

Leasing comparison website Lease Fetcher has raised £300,000 in seed funding, in a round led by parent company Digital Impact.

Scotland’s main economic development agency, Scottish Enterprise, will invest up to £100,000 into the new start-up, with Digital Impact making up the remainder.

Claiming to be a “UK first”, Lease Fetcher automatically collects tens of millions of prices from hundreds of leasing brokers and allows users to search, filter and compare prices to find the offer that’s best for them.

Founded in Glasgow just this year, the start-up plans to launch in late 2017 and will use the injection of cash to accelerate the development of its comparison engine and and digital systems.

Scottish Enterprise is Scotland’s main economic development agency and a non-departmental public body of the Scottish government.

Will Craig, founder and CEO at Lease Fetcher, said:

“In the UK, you can compare hundreds of utility packages, thousands of broadband deals and millions of phone contracts. The fact you can’t compare leasing deals is mind boggling so we set out to change that.

“Currently, users must find a car they like then use individual leasing broker websites to search for deals. If they cannot find a deal at a price they like, they must start this process over. The fact you can’t compare leasing deals is utterly mind boggling. With Lease Fetcher, we set out to change that.

“Moving forward, we’re tremendously excited to be working with Scottish Enterprise and plan to grow Lease Fetcher into a global market leader.”

To understand the three basic forms of leasing vehicles, read our guide here.