Key facts
- MyMonthlyCar connects dealerships with customers for month-to-month used car rentals.
- The startup charges dealerships and customers a 10% transaction fee.
- MyMonthlyCar offers a rent-to-own option for dealerships.
- The company plans to sign on 100 dealerships and facilitate 2,000 monthly rentals in its first year.
- MyMonthlyCar is currently bootstrapped and plans to raise a seed round.
MyMonthlyCar, a startup founded by Igor Dobrianskyi, Kostiantyn Gitko, and Vadym Zotov, aims to monetize idle used car inventory at dealerships by offering month-to-month rentals. Dobrianskyi, who previously owned a car rental company in Ukraine and launched a peer-to-peer car marketplace called SizeCar, believes there is a significant market for flexible car rentals, especially for those needing a vehicle for a few months.
The platform will connect dealerships with customers seeking these rentals, with the added option of a rent-to-own program. MyMonthlyCar will not charge dealerships to list cars but will take a 10% fee from each transaction, with customers also paying a separate 10% fee. The startup is currently working with an insurance broker to establish its own insurance program, a critical component for dealers concerned about liability.
MyMonthlyCar has secured seven dealerships for initial testing and plans to expand to 100 dealerships, facilitating 2,000 monthly rentals and generating $300,000 in revenue in its first year of operation. The company, which is bootstrapped, intends to raise a seed round to fund platform development, including an AI tool to assist dealers in identifying suitable rental vehicles.