Idoneo is the application that allows users to find different rental options adapted to their needs. The platform uses a 100% digital, simple, and transparent process. It allows the possibility of hiring a rental vehicle in ten minutes via your mobile device. The selection, risk analysis and signing of contracts can be done from any device.
Idoneo also brings together all the leasing offers available on the market, since it operates with different firms in this sector. According to its founders David Eguizabal (COO) and Eduardo Clavijo (industrial engineer), “this system makes it possible for the buyer to find their ideal car in one place and rent it through a unique experience, regardless of the provider”.
In this sense, Idoneo has become the company capable of achieving the ideal rental through an experience that the founders describe as “unique, with the largest rental offer in Spain”. With this philosophy and the development of the different tools of the platform, Idoneo has received the award for the best website in La Rioja, in 2018; and the Product Hackers Awards 2019, in the category Rentaltech and Marketplace.
BUSINESS MODEL
So far operating only in Spain, Idoneo has developed a business model through which it charges the provider a fee for each rental contract it closes. The company follows the digital broker system that is common for rental operators, manufacturers, banks, and dealers.
The objectives included in the company’s roadmap include starting operations in neighboring countries such as Portugal and France.
INVESTMENTS
Currently, Idoneo has invested around €500,000 in the development of the company. Furthermore, the firm has received financing from two rounds of capital of €320,000, a subsidy from the Government of La Rioja of €70,000 and different loans from the Enisa and Lanzadera organization.
In the words of the platform’s founders, “we proud to have backing from investors such as Metxa, Ricari and business angels from Spain and London. In addition, we are being accelerated and financially supported by Joan Roig, chairman of Mercadona, through his business accelerator Lanzadera”.
Idoneo’s project focuses especially on establishing access to a car as a service, as has occurred in the past to other products such as music, movies, and servers. Currently, the market demands more flexibility. Therefore, the firm’s short-term objective is focused on offering that flexibility through shorter contracts that allow you to have a rental car with a commitment of permanence of months rather than years.