New car rentals startup CarRental has been acquired by private equity firm, Capital One, for $3.4 billion, the company announced on Thursday.
CarRental, based in New York City, has been offering car rental services since it was founded in 2013, with a fleet of over 7,000 vehicles.
The company’s vehicles are available for rent at no cost to anyone who wants to rent them, though CarRotor said it was adding new features in 2018 to help renters find their perfect car.
One of those new features is CarRrent’s leasing service, which lets renters rent a car out for a specific period of time.
CarRenters pay the monthly lease price for the car, and if they leave it unrented, they will have the opportunity to lease it out for the remainder of their lease.
If they are willing to pay more than they are renting, they can then cancel the lease, but the car will remain on the rental site for a certain period of days.
The startup said that it has now doubled its fleet of vehicles and added a number of features to its platform.
One of the additions is Carrentan’s rental app, which allows users to rent out the vehicle in the app, but with a few extra steps.
Carrentans can set up their own car rental sites, and the company said that they would be adding more sites in the future.
Another new feature that CarRlease added is its CarRaptor, which CarRarat added in 2018, allowing users to upload their own photos and videos of the car they want to rent.
The car rental startup also announced that it will be launching its own mobile app for renters and their friends, called CarRash, which is meant to be used to find the best rental cars for their needs.