E-Car Club, a UK-based entirely electric car club, secured £500k in funding.
Backers included Ignite Social Enterprise LP.
The company, which had received backing from impact Angel Investors in mid-2013 (read here) and equity crowdfunding via Crowdcube (read here), intends to use the funds to expand operations in up to twenty new locations across London and the South East.
Founded in 2011 by Christopher Morris and led by Andrew Wordsworth, Chairman, E-Car is an entirely electric pay-per-use car club, designed to provide members of selected communities with access to full-sized electric cars to rent by the hour. It enables business or private members to book vehicles online, by phone or using a mobile application.
The club is currently operating in Milton Keynes, Luton, Tower Hamlets, Oxford and across Hertfordshire and new hubs are under development in London, the South East, and the Midlands.