ForestCar is free airport parking in exchange for renting your car while you are away, creating a unique car sharing service. They offer full compressive insurance to those renting their car, and renters can get cheaper rentals as well as discounts by driving responsibility. A total of 10% of ForestCar’s profits go to fighting deforestation by planting trees, based on the volume of cars rented and how safe drivers are.
HOW THEY’RE DISRUPTING
ForestCar are changing the way rental cars at airports work with a sustainable edge. A share of their income plants trees to help tackle deforestation, planting one tree for every day a care is rented out. Car owners can also either take their all their share of the revenue, or invest more into planting trees. They have recently partnered with TrakGlobal.
There are 3 times as many cars parked at airports than there are airport rental cars. It was reported in 2018 that car hire companies inflate the price of their rentals by eight times at airport desks, due to excessive insurance costs. With ForestCar, renters can save up to 50% on traditional airport rentals.
INVESTMENTS AND FUTURE
ForestCar have been part of [email protected] 7.0, an initiative to support entrepreneurs with their development and amplification, and have recently graduated from Startupbootcamp Insurtech. They are currently raising funds for a $250k Angel round.