WheelsOn, a UAE-based mobile-first car rental platform, has raised $12.5 million in a funding round. The round included $2.2 million in equity from MENA-focused private investors (including partners of Xploration Capital), $6.5 million for fleet expansion, and $4 million from local banks. This brings WheelsOn’s total funding to $12.5 million and its valuation close to $30 million.
The funds will be used to expand the fleet, speed up product development, and grow market presence. WheelsOn is also introducing AI-powered dynamic pricing tools to improve fleet usage and smart personalization software that suggests vehicles, insurance, and rental periods based on user preferences. Upcoming features include digital car keys, allowing renters to unlock cars directly from their smartphones for a contactless experience.
WheelsOn was founded in 2023 by Nikolay Melnichuk (Partner at Xploration Capital) and Adlet Shagirov (Co-Founder & COO), later joined by Maxim Olivson (CPO). The platform was created to solve problems with traditional car rentals in the UAE, where customers often face high security deposits, hidden fees, and long paperwork, making the process stressful for locals, expats, and tourists.
“Our mission is to rethink car rentals by offering full transparency, digital convenience, and a product that puts users in control. We remove deposits completely, eliminate paperwork and counter queues, and give customers a seamless experience all through our intuitive mobile app and website,” said Maxim Olivson, CPO at WheelsOn.
Unlike aggregator platforms, WheelsOn owns and manages its entire fleet, giving it complete control over the rental experience. This ensures consistent vehicle quality, clear pricing without hidden fees and reliable service. Its fleet management and vehicle tracking system monitors each car in real-time allowing for timely maintenance and better transparency, which improves availability and keeps customers safe.
This technology also helps WheelsOn reduce security deposits and hidden costs, because better control and data-driven operations lower risks and build trust with renters. It also powers smarter customer support, letting user feedback improve services quickly and keeping satisfaction high.
WheelsOn serves a wide range of customers, offering support in English, Arabic, Chinese, and European languages like French, Italian, Spanish, and German. It caters to locals needing flexible monthly rentals, business customers who need premium cars or chauffeured vans and tourists looking for convenient airport or hotel delivery.
In the coming years, WheelsOn plans to strengthen its presence in the UAE and expand to other Gulf countries with similar rental challenges. The company aims to grow its active users to tens of thousands and increase fleet size, meeting the rising demand for transparent, flexible, and convenient car rentals.
Read more- Blue Tokai Coffee Roasters Secures $25 Million in Bridge Funding
