Clarity Travel Services (t/a Stressfreecarrental.com) secures £534k Seed investment led by DSW Ventures

Car rental ‘challenger’ firm set to expand into Europe after £534k investment

Stressfreecarrental.com – a new challenger in the online car rental market – has raised £534,000 in a funding round led by DSW Ventures and including angel investor Harry Dixon, former technical director at Rentalcars.com.

Stressfreecarrental.com operates a price comparison and booking platform for car hire and airport transfers. It aims to bring a fresh approach to product, service and technology and offer lower prices, improved transparency and better customer experience.

The Manchester-based company already operates in the UK, South Africa, Australia and the US. The investment will allow it to expand its team with the creation of 13 new jobs in the next 12 months, extend its reach into Europe and accelerate growth.

Stressfreecarrental.com was launched in 2020 by entrepreneurs John Charnock, David Mathews and Rory Powers, a proven team who together grew and exited their last venture, Inventive IT, a booking platform focused on the airport services market. 

As part of the investment, travel industry veteran James Jennings joins as chairman while Tom Knopek, who has had a 30-year career in the car rental industry, has been appointed as non-executive director.

Founder and CEO John Charnock said:

“We built great foundations for the business last year and this year we’ve seen significant growth in our revenues despite the ongoing pandemic. This investment will enable us to take the business to the next level by extending our reach into foreign language domestic markets, offering clear and transparent car rental in Spain, Italy, Portugal, Germany and Greece.”

Stressfreecarrental.com is the eighth company to join DSW Ventures’ portfolio, which includes other online consumer brands such as One Utility Bill and ACAI Outdoorwear.

Ellie Boardman, Investment Manager at DSW Ventures commented:

“The online car rental market is ripe for disruption. Stressfreecarrental.com offers a fresh approach and we believe it is well-placed to achieve significant scale. The business has already gained considerable traction, despite restrictions on travel, and this round will support its further development and growth.”

ENDS

About DSW Ventures

DSW Ventures made its first investment in 2018 and is an investor in early-stage scale-up businesses requiring venture funding of more than £250,000, primarily on an EIS basis. It is funded by a growing network of high-net-worth angel investors. DSW Ventures is the trading style of DSW Venture Capital LLP, which is part of the Dow Schofield Watts Group.

DSW Ventures is a partner in British Business Investments’ £100m Regional Angels Programme, designed to help reduce regional imbalances in access to early-stage equity finance for smaller businesses across the UK. British Business Investments is a wholly-owned commercial subsidiary of the British Business Bank, the UK government’s economic development bank.

Dow Schofield Watts is a UK independent advisory and investment group, headquartered in Warrington, Cheshire and with offices in Manchester, Leeds, Aberdeen and London.

www.dsw.vc

Safiya Marzook

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