CarHopper raises $1.5 million to let travelers rent ultra luxurious cars

The sharing economy continues to bear fruit. CarHopper, a platform for luxury car rental, has raised a $1.5 million seed round to expand to new markets.

CarHopper started as a peer-to-peer platform for luxury car owners — think Lexus, Mercedes and BMW all the way up to Ferrari and Rolls Royce — to rent out their rides to others. But in its infancy, the company realized there was a much bigger opportunity with small, local rental agencies that don’t have a strong online presence.

These local agencies have trouble competing with nationwide rental agencies like Avis and Hertz, according to founder and CEO Bora Hamamcioglu, who says that many of them have archaic inventory systems and poor online booking systems, if any at all.

CarHopper facilitates the transactions for renters and the agencies on their luxury and ultra high-end inventory, while the agency still takes care of things like insurance, customer service and maintenance.

On the low-end, CarHopper cars can go for $600/day, and range all the way up to $1,500/day for the priciest models.