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This month, Dale Vince of Ecotricity led the . . .
A comparison of the value of Staffordshire-based car rental has secured new investments to drive business growth, create new jobs, and deploy the next phase of its technology.
Moneyshake introduced in 2019, supported through 500,000 euros of seed capital from institutional and personal investors.
The most recent investment provided through automotive veteran Darren Guiver, who is the executive leader of the British department of automotive giant Group 1 Automotive.
Guiver spent more than 35 years in the automotive industry after construction and promoting his own dealer network before being managing director of Group 1 Automotive UK, a position he held until 2019.
Guiver said: “Moneyshake is precisely the kind of fast-growing technology company I’m looking for. As the automotive industry faces unprecedented challenges, Moneyshake’s generation is about to revolutionize the way new cars are purchased and sold.
“Price comparison has been static for many years and our innovations will create a new and exciting way for consumers to buy and for the automotive industry to sell, ensuring treatment for everyone.
“Beyond car finance, I’m excited to see what other generations of spaces can ‘change’. “
Eben Lovatt, managing director of Moneyshake, founded in Newcastle-under-Lyme, added: “Darren is the ideal investor to join our team.
“Not only does this investment have a primary positive effect on our business, but its wealth of knowledge, contacts with the automotive industry, and business capacity is precisely what we want in our next level of growth.
“Darren’s active participation in the business allows us to drive our business plan, offering key relationships that will help us load more financing strategies into our already market-leading leasing presence.
“Buying a car is fitting into a fully digital process. People need to know they’re getting the deal for their car. Therefore, there is increased demand for online platforms that allow buyers to connect with a variety of trusted distributors and brokers.
“Our cutting-edge user experience, coupled with the launch of the next phase of value comparison technology, will provide our consumers with an exclusive car shopping experience in fact. “
David Kendrick, spouse of UHY Hacker Young in Manchester, corporate finance recommendation to Moneyshake.
Mark Hepple of JMW in Manchester legal advice.
Kendrick said: “Moneyshake’s team and generation are something I’ve never noticed before and I think they’re willing to make a genuine difference in automotive space, but also in other long-term markets.
“Darren’s involvement will significantly speed up the business and be a very exciting adventure to come. “