Present in Gdańsk since 2021, Finalrentals has expanded its operations to 13 markets in recent months. The company’s services will soon be available in Poland and, in the long term, in 100 more countries.
Finalrentals story began in the garage of Pakistani Ammar Akhtar. Thanks to the support received under the Poland Prize programme, it was possible to relocate the start-up’s organisational and technological centre from the Middle East to Europe. The start-up has developed an online platform through which it provides car rental services. Using modern technology, Finalrentals combines offers from local rental companies. As part of the service, the company compares rental offers and even negotiates the most favourable price. It aims to provide a comprehensive service for all the customer’s car rental needs.
– We offer daily, weekly or monthly rentals. We aim for the lowest prices, transparent conditions and no hidden charges. The entire booking process on our platform takes place via online software, without the use of paper documents. This makes our services cost-effective, professional and fast – says Ammar Akhtar, CEO, Finalrentals.
More efficient car rental thanks to artificial intelligence
Finalrentals bases its operations on a digital franchise platform that is supported by artificial intelligence (AI). Thanks to AI, Finalrentals’ employees analyse the data of the services provided and, among other things, predict the potential demand for specific car models, identify customers’ preferred pick-up points or estimate the useful life of the vehicles. One example of the use of AI to build an appropriate offer is the acquisition of knowledge about the most popular rental cars in the Caribbean. Thus, for the Dominican Republic it was the 2022 Hyundai i10, for Jamaica the Suzuki Vitara and for Saint Lucia the Suzuki Swift. The cutting-edge technology used by the start-up gives local companies that have not previously offered online services the opportunity to reach customers from all over the world through the platform.
4 years in Gdansk on the road to success
In 2022, the company saw a significant increase in turnover and a post-pandemic rebound. It launched operations in 13 new countries, combining the services of multiple rental companies under one service portal. The company’s revenue more than tripled for the year, reaching £546,000. Finalrentals is present in the United States, Canada, the United Arab Emirates and the Caribbean, among others.
– We will soon launch operations in Lithuania, Croatia, Serbia, Portugal and Spain. We have already selected partners for our activities in Poland, which we are very pleased about. With this country, and above all with Pomerania, our company is extremely connected. Thanks to the support of people and institutions in the region, we have been able to develop the company dynamically. In the coming months, we plan to expand our office in Gdańsk by 10 people – adds Ammar Akhtar.
Pomerania: a start-up-friendly port
The development of Finalrentals in Poland was made possible, among other things, thanks to funding from the Poland Prize. The aim of this grant programme of the Polish Agency for Enterprise Development, is to encourage foreign start-ups to do business in Poland by providing them with support at various stages of development. Finalrentals chose Gdansk out of many possible locations in the country. The region offers investors and start-ups increasingly better conditions for development, thanks, among other things, to Invest in Pomerania, a local government initiative coordinated by the Pomerania Development Agency, which has been serving investors in the region for more than 10 years.
– I am very pleased that our region is chosen by foreign start-ups. The Pomeranian Voivodeship is an excellent place to develop business and open up to the international market. The proximity of universities and technology incubators guarantees access to qualified staff and modern infrastructure. The region is also home to clusters that bring together and support innovative projects – Interizon, for example, is such a technological hub – convinces Mieczysław Struk, Marshal of Pomorskie Voivodeship.
For many years, Tricity has been a leader in IT development in Poland and is one of the fastest growing technology hubs. This fact can be confirmed by its high places in the ranking Tech Cities of the Future fDi Intelligence, organised by the London branch of The Financial Times. This year, the entire region was distinguished – the Pomeranian Voivodeship was ranked 5th in the Mid-Sized European Regions of the Future category.