Netflix for the Automotive Industry
Netflix forever changed the way we watch movies. Instead of buying tickets to see them one at a time at a theater, we now pay a monthly subscription to access thousands of titles on-demand.
Unlo is creating Netflix for the automotive industry. It’s a subscription platform that enables members to rent cars, trucks, motorcycles, and boats through a single app.
Renting has become a huge trend. As The New York Times stated, “They see it. They like it. They want it. They rent it… owning nothing is now a luxury, thanks to a number of subscription startups.”
Unlo is joining these startups targeting the subscription service trend.
The company launched in summer 2020 through a pilot program in Seattle, Washington. Initial vehicles available for rent included a Porsche Cayman sports car and a Yamaha 195S powerboat. The company soon added a BMW and two all-terrain vehicles (ATVs).
Unlo is initially targeting the $6 billion market for luxury cars in North America. It will focus on providing on-site car-sharing at urban upscale multifamily properties.
The company is seeking funds to further develop its app, conduct additional pilots, and add more vehicles to its service.