{"id":42227,"date":"2023-10-20T15:19:40","date_gmt":"2023-10-20T15:19:40","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/latest-funding-round-sees-collaborate-corporation-move-to-scale-and-develop-platforms-startupsmart\/"},"modified":"2023-10-20T15:19:40","modified_gmt":"2023-10-20T15:19:40","slug":"latest-funding-round-sees-collaborate-corporation-move-to-scale-and-develop-platforms-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/latest-funding-round-sees-collaborate-corporation-move-to-scale-and-develop-platforms-startupsmart\/","title":{"rendered":"Latest funding round sees Collaborate Corporation move to scale and develop platforms – StartupSmart"},"content":{"rendered":"
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Collaborate Corporation, which operates a number of peer-to-peer marketplaces, including DriveMyCar Rentals, Caramavan, Rentoid, and has a significant stake in Marketboomer, has raised $1.26 million.<\/p>\n

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Chief executive officer Chris Noone says the funding \u2013 its second round in the last six months \u2013 will be used to help scale up its marketplaces, and develop its platforms to enable the company to easily move into other product categories.<\/p>\n

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\u201cThe way we look at the world, is there\u2019s a number of assets that are currently sitting idle, because there\u2019s no way to monetise them,\u201d Noone says.<\/p>\n

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\u201cWe turn those assets into something that\u2019s monetisable, by adding renters, trust and security. So we\u2019re constantly on the lookout for large groups of idle assets.\u201d<\/p>\n

 <\/p>\n

Founded in 2010, DriveMyCar Rentals provides the blueprint for Collaborate Corporation\u2019s marketplaces. Through its platform, vehicle owners are able to rent out their cars to individuals who have undergone ID verification and credit checks. Caramavan applies the same concept for caravans, while Rentoid allows individuals to rent just about anything \u2013 coffee tables, cherry pickers, notebooks or digital cameras.<\/p>\n

 <\/p>\n

Collaborate Corporation\u2019s marketplaces all operate in Australia, but Noone says given they are easily scalable, the funding will allow the company to look at expanding into other markets, as well as support a relaunch of the DriveMyCar website.<\/p>\n

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\u201cWe\u2019ve seen consumers develop their understanding of the model,\u201d he says.<\/p>\n

 <\/p>\n

\u201cAnd we\u2019ve witnessed a quite massive change in the awareness of the opportunity.<\/p>\n

 <\/p>\n

\u201cIn the US we have recently seen peer-to-peer businesses such as Airbnb, Uber, Lending Club and RelayRides achieve extraordinary valuation increases and it\u2019s pleasing to see that Australian investors are now are of the potential for collaborative consumption to disrupt multi-billion-dollar industries.\u201d<\/p>\n

 <\/p>\n

Noone wouldn\u2019t disclose exactly who participated in the round, but did say it came from institutions and high net worth investors, and the round was \u201cheavily oversubscribed\u201d.<\/p>\n

 <\/p>\n

\u201cCollaborate is now well placed to improve its position as the leading ASX-listed company exploiting collaborative consumption opportunities,\u201d he says.<\/p>\n

 <\/p>\n

Follow<\/i> StartupSmart on<\/i> Facebook<\/i>,<\/i> Twitter<\/i>, and<\/i> LinkedIn<\/i>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Collaborate Corporation, which operates a number of peer-to-peer marketplaces, including DriveMyCar Rentals, Caramavan, Rentoid, and has a significant stake in<\/p>\n","protected":false},"author":2,"featured_media":60455,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,8,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/42227"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=42227"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/42227\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/60455"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=42227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=42227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=42227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}