South Wales fintech company, Finalrentals, offers a car rental booking platform that enables users in a chosen location to search for and compare car rental prices from a range of companies in their area.
Established in 2019, the Penarth based company has grown to see its platform now used in over 30 countries worldwide across Europe, North Africa, North America, the Caribbean and the Middle East.
Exports account for 100% of Finalrentals’ trade and over the past 12 months, the company’s staff count, client numbers and gross revenue have trebled thanks to its export strategy.
Following recent success in Europe, with new contracts worth approximately £500,000 per annum secured in Greece, Portugal and the Balkans, the company has set its sights on further European expansion, aiming to triple its client base in the region to 100 clients over the next year.
Being based in Wales has enabled Finalrentals to attend trade shows and market visits to target regions, which have been key to its export achievements. In recent months, the company has visited San Fransisco, Singapore, Madrid and Berlin, which have directly resulted in deals with partners in Turks and Caicos, the Bahamas and Montenegro equating to an additional £200,000 a year.
Finalrentals is also a member of the Welsh Government’s Export Cluster programme, which brings together companies across five key sectors, including technology, to learn from one another, receive expert advice and jointly develop export capabilities. The programme helps to support Wales’ growing tech sector.
For Ammar Akhtar, founder and CEO at Finalrentals, being in Wales has played a key role in the company’s rapid growth. He said: “There is an ecosystem in Wales that nurtures company founders and rewards ambition. Being a fintech company based in Wales puts us in high regard in our target markets as we’re standing on the shoulders of ‘brand Wales’ which is known for having a thriving and growing tech sector.
“At the same time, Wales is a hub for young talent in comparison to other parts of the UK. A lot of people come here to study, and tapping into the pool of talented graduates has allowed us to nurture people who have the potential to become great workers and advocates for our business.
“Being in a beautiful part of the world and the work-life balance available here, with it not being as intense as some industrial cities in England, helps to retain staff. Everything feels more accessible; you could be in the city, countryside and coast all in the space of one day!”
For more information on Finalrentals, visit: https://www.finalrentals.com/
