Crowdfunding for your vehicle-sharing business – what are the options & how to get started
July 18, 2022
min. read
Having a great business idea is rarely enough – you also need money to get the ball rolling. But what if you don't have tens of thousands just laying around to bootstrap your business? Or don't want to go the traditional way and attract VC funding in exchange for a large number of company shares?
This is where many founders choose to crowdfund.
Crowdfunding is a way of raising money for your business from a large number of people through online platforms. In 2000, ArtistShare became the first dedicated crowdfunding platform, and since then, crowdfunding has become one of the top funding sources for businesses, with the global market estimated to reach $300 billion by 2030.
If you're looking to fund your vehicle-sharing business, crowdfunding might be one of the options. It can not only help you attract money but also test your business idea in the first place. After all, if enough people are ready to back your idea, it's a clear sign it has a place in the market.
Screenshot from www.funderbeam.com crowdfunding platform.
Types of crowdfunding platforms & their investors
For your vehicle-sharing business, there are three main types of crowdfunding to consider – rewards, debt, and equity. Let's take a closer look at each of them!
Rewards
This is considered the “traditional” type of crowdfunding and is currently the most popular. The idea is simple – people contribute to a business idea, expecting to receive a reward, such as products or services, at a later stage.
Platforms for rewards-based crowdfunding (few examples):
- Kickstarter
- Indiegogo
Who are the backers?
Regular people with little or no experience in investing; early adopters – people who embrace new things before most other people do. Generally, these people invest because they truly believe in the idea and want to help it come to life, as well as because they just want to be the first in the world to receive the product.
Best for:
Businesses at early stages – idea or early development. Rewards crowdfunding is also for established businesses looking to launch a new product or expand to new markets.
Debt
Debt-based crowdfunding – also known as peer-to-peer (P2P) lending – means that the crowd lends money to a company, which it needs to repay with interest by a certain deadline. The idea is similar to borrowing a loan from a bank, except that in this case, there are many lenders instead of one.
Platforms for debt-based crowdfunding (few examples):
- LendingClub
- Honeycomb Credit
Who are the lenders?
Lenders that support companies via debt-based crowdfunding are individual investors looking to earn a higher profit on their cash savings and/or diversify their portfolio. These investors care about two things – whether the company will be able to repay the loan and how much they'll earn in interest payments. Everything else is secondary.
Best for:
Companies with a stable revenue that can more or less accurately predict their cash flow to repay their lenders. Generally, this is for companies at different stages when they've started to make a profit.
Equity
Equity-based crowdfunding allows businesses to give away a portion of their company to a number of investors in exchange for investment. Investors receive shares in the company based on how much money they've contributed.
Typically, equity-based crowdfunding is done in a way that first, the crowdfunding platform takes the company's equity, then sells the shares on their platform.
Platforms for equity-based crowdfunding (few examples):
- Funderbeam
- Seedrs
Who are the investors?
Typically, these are quite seasoned investors with experience in stock and/or startup investments who are now looking for higher-risk, higher-yield investments. These people might be less interested in the idea or cause behind the business and more in its potential future growth and profits.
Best for:
Businesses at all growth stages, except for the exit/acquisitions stage.
How much can you expect to raise with crowdfunding?
How much a successful crowdfunding campaign raises can differ greatly depending on the stage of your business and the type of crowdfunding you've chosen.
For example, according to the equity-based crowdfunding platform Seedrs, businesses with MVPs usually raise between €30k and €50k, whereas early-stage businesses – between €50k and €250k.
In the meantime, on Kickstarter, the rewards-based crowdfunding platform, the majority of successfully funded projects raise less than $10k. Tech products typically raise between €20k and €100k.
How about vehicle-sharing businesses? Here are two successful examples:
- Electric bike-sharing company Mobi raised €794,891 on Spark Crowdfunding.
- Scooter-sharing startup tretty raised €62,635 from 170 backers with their rewards-based crowdfunding campaign via StartNext.
- Bike and scooter sharing company Frog Mobility raised €138,814 – 40% of their set funding goal – via equity crowdfunding platform Spark Crowdfunding.
- Mount, a PaaS for Airbnb hosts to offer shared vehicles to their guests, raised $133,460 via WeFunder.
To start a bike-sharing or scooter-charing business with 40 vehicles, you should aim for at least €40k. This is doable with all types of crowdfunding models if done right.
Now, let's see what “right” means and how to make your crowdfunding campaign a success.
How to succeed with your crowdfunding campaign
A successful crowdfunding campaign can help you get your business off the ground and raise even more funds than you had expected. The harsh reality, however, is this: as many as 85% of crowdfunding campaigns fail and never reach their set goal.
To increase your chances of a successful crowdfunding campaign here's your basic to-do list:
- Choose the right platform
This depends on your funding goal, the stage of your business, the type of your product, and even your target market. For example, AppBackr is an app-specific crowdfunding platform, StartNext is for products for the German market, while Kickstarter is only available to creators in 25 countries.
- Understand your investors
People backing projects on Kickstarter vs Funderbeam can differ greatly. For example, on Kickstarter, people are more interested in the “coolness” of the product, whereas investors funding companies via debt-based or equity-based crowdfunding platforms care more about the company's projected growth and cash flow, and the money this investment is going to make them. Keep this in mind when crafting your pitch!
- Start preparing early
One of the key secrets to launching a successful crowdfunding campaign is investing heavily in pre-campaign lead generation. Start building a community and an email list of supporters as early as you can – these people will give your campaign the necessary first push to succeed. You should aim to collect 30% of your funding goal within the first week – then, the campaign is likely to reach the goal.
- Craft a compelling pitch
Good storytelling is the key to your campaign's success, no matter who your investors are. That said, the stories they want to hear differ. For a reward-based campaign, craft a story around your product that evokes emotions – make people laugh, help them imagine themselves with your product, or be angry about the issue it's going to solve. For an equity-based campaign, you should focus more on highlighting your team's strengths, market knowledge, and long-term vision.
- A range of rewards
Apart from an option to buy your product, it's recommended to include some lower-priced options for people who just want to support you. For example:
- Weekly or monthly subscriptions to your service
- Free credits to use your service
- Ad space on your product
- Partnership packages
- Priority delivery of the product or access to the service
- Product accessories
- Guided city tours
Other things that can help you launch a successful crowdfunding campaign include:
- Professional visuals – this is essential for making a good first impression
- Videos – they help issuers earn 105% more
- Posting regular updates – those boost your chances of raising 126% more
- Data and stats that make you look reliable – previous successful projects, business traction, existing customer reviews, and testimonials
- Social media presence – when you share your project on social media platforms, your probability of success increases. For example, if you share to 100 or 1,000 followers, the probability of success increases by 20% and 40%, respectively.
To conclude
One of the biggest mistakes founders make is assuming that it's enough to have their campaign launched on the chosen crowdfunding platform, and people will come and invest in it.
The reality, however, is this:
A successful campaign requires a lot of work outside the crowdfunding platform – you need to proactively and systematically look for supporters and persuade them to invest. So, to improve your chances of succeeding, start preparing months before the launch of the campaign.
Interested in launching your own mobility platform?
Click below to learn more or request a demo.
Blog
Cracking the code of car sharing: Best technology for car sharing business
🚘💡 What keeps cars in car-sharing businesses connected? From CAN bus and OBD devices to cutting-edge IoT providers like Teltonika, Invers and Geotab, it’s all about the hardware!
November 27, 2024
min. read
Car sharing is more than just a trend—it’s a game-changer for urban mobility, helping people access vehicles without the headache of owning them. But what makes it all work? Let us introduce the tech behind car sharing and explore how companies like ATOM Mobility make it easier to start and scale your shared mobility business profitably.
The three pillars of car sharing technology
At the heart of every car-sharing operation are three key technologies that connect vehicles to platforms: CAN bus, OBD, and OEM telematics. Here’s what they do and why they matter:
1. CAN Bus: The car’s internal network
The Controller Area Network (CAN) bus acts like a car’s central nervous system, allowing different components to talk to each other. It delivers detailed data—fuel levels, battery status, or even tire pressure—directly to your car-sharing platform. This deep integration also allows remote actions like locking or starting the vehicle.
However, CAN systems require professional installation, which can mean higher upfront costs. For larger operators with fleets that need granular control and detailed diagnostics, it’s a must-have.
2. OBD: Affordable and easy to deploy
On-Board Diagnostics (OBD) devices are the plug-and-play heroes of car sharing. Simply connect them to the car’s diagnostic port, and you’ve got instant access to location, speed, and engine health. They’re affordable, quick to set up, and ideal for small-to-medium operators just getting started.
That said, OBD devices offer less functionality compared to CAN. They’re perfect for a more basic setup but might not suit operators who need advanced data or remote vehicle controls.
3. OEM Telematics: Factory-installed genius
OEM telematics systems come pre-installed in many modern cars. These systems provide seamless connectivity and are highly reliable, enabling features like real-time tracking, diagnostics, and remote locking.
The downside? OEM telematics tie you to the car manufacturer’s system, which can limit customization. If your fleet is from a single brand, this is a fantastic option. For mixed-brand fleets, integrating other devices might make more sense.
The IoT providers helping you succeed
Beyond these three core technologies, IoT providers offer additional tools to supercharge your car-sharing operations. Here are four standout names making waves in the industry:
Teltonika
WEB: https://teltonika-gps.com
Headquartered in Lithuania, Teltonika has been at the forefront of IoT since 1998. With over 1,600 employees, the company specializes in GPS trackers and other connected devices that bring real-time tracking, security, and driver behavior analysis to your fleet. Their scalable solutions are ideal for growing car-sharing businesses.
Geotab
WEB: https://www.geotab.com
Based in Canada, Geotab supports over 2 million vehicles worldwide with its advanced fleet management tools. Their telematics devices don’t just track vehicles—they provide insights into fuel efficiency, maintenance needs, and safety. For operators focused on data-driven optimization, Geotab is a top choice.
INVERS
WEB: https://invers.com/en/solutions/cloudboxx
Germany’s INVERS is a leader in shared mobility tech, offering the CloudBoxx device to connect vehicles with car-sharing platforms. Easy to integrate and reliable, CloudBoxx ensures a smooth experience for operators and users alike. With a strong presence in Europe and North America, INVERS is a trusted name in the industry.
Acacus
WEB: https://www.acacusgroup.com
Operating out of the UAE, Acacus combines IoT and AI to deliver smart mobility solutions. Their tech is widely used in government projects and private fleets, especially in regions embracing smart cities. Acacus brings innovation and reliability to shared mobility operators aiming for cutting-edge solutions.
How ATOM Mobility comes into the picture?
Technology is only as good as the platform that connects it all. That’s where ATOM Mobility shines.
ATOM’s software integrates seamlessly with devices from Teltonika, Geotab, INVERS, and others, making it simple to connect your fleet and manage everything from a single dashboard. No matter the size of your operation, ATOM provides tools for real-time tracking, user management, and secure payments—all with intuitive design and full support.
Whether you’re launching your first car-sharing fleet or expanding across multiple cities, ATOM helps you scale profitably and with confidence. We make the technical stuff easy so you can focus on growing your business.
Why is car sharing the future?
Urban living is changing. People are moving away from car ownership, opting instead for flexible, on-demand solutions like car sharing. It’s convenient, cost-effective, and kinder to the planet.
With tech like CAN, OBD, OEM telematics, and IoT devices driving the industry forward, the potential for shared mobility is enormous. But to succeed, operators need the right tools to manage fleets, optimize performance, and deliver a great user experience.
Join us
Ready to start your car-sharing journey? Book a demo with ATOM Mobility and let’s get moving!
Blog
.png)
Fleet management with ATOM Mobility: The future of task automation
🔧 🚗 Simplify fleet management with automation! ATOM Mobility’s latest Task Automation feature creates maintenance tasks automatically, so you can focus on growth instead of scheduling. From mileage-based services to feedback-triggered check-ups, this tool has your fleet covered.
November 11, 2024
min. read
Automating fleet management with ATOM Mobility: The future of task automation
Managing a fleet comes with many moving parts—from ensuring vehicles are serviced regularly to addressing feedback and operational needs. ATOM Mobility’s new Task Automation feature optimizes this process by automatically creating tasks based on each vehicle’s real-time parameters, such as mileage, time, user feedback, and ride count. This allows fleet operators to focus on strategic growth while routine maintenance and issue resolution become automated. Here’s how this feature could make fleet operations smoother, efficient, and more scalable for shared mobility and rental businesses.
Task automation for fleet management
ATOM Mobility’s Task Automation feature builds on its ongoing focus to simplify fleet management. This new addition enables operators to automate task creation based on specific vehicle metrics, reducing manual effort and enhancing overall fleet efficiency.
The idea is brilliantly simple: instead of creating tasks manually (which can be tedious and time-consuming), this tool will automatically create tasks for you based on pre-set conditions.
With Task Automation, you can set specific parameters that will trigger task creation, such as mileage, ride count, ratings, or time. Picture this: every 5,000 kilometers driven, the system can automatically create a “Tire Check” task. Or if a specific vehicle receives user ratings below two stars, a “Low user review, check up required” task can be triggered. This approach to task generation not only saves valuable time but also ensures that vehicles receive consistent care based on real usage and performance, not guessing.
How task automation works in a nutshell
Setting up Task Automation in ATOM Mobility’s dashboard is designed to be as seamless as possible. The process essentially boils down to three simple steps:
- Log in to the ATOM Mobility platform, and head to the Fleet Maintenance section under “More.”
- Create a new automation: Specify the task type (like check-ups or cleaning ro anything else), set priority (low, medium, high), choose the relevant vehicle model, and add an optional description.
- Set a trigger parameter and value: Choose the metric that will trigger the task, whether it’s mileage, ride count, user feedback, or time schedule.
Once everything’s set, the system will keep track of these parameters for each vehicle, ensuring that when a trigger is met, a task will be created automatically and added to the dashboard. You’ll have everything you need to keep each vehicle in tip-top shape without manual oversight.
Why task automation is a game-changer for shared mobility operators
It’s no secret that keeping up with fleet maintenance can be a full-time job—and then some. Task Automation is built to give you time back in your day and enhance fleet health without excessive manual work. Here’s how it shines:
- Minimizing downtime and maximizing efficiency: With automated tasks created on schedule, you’re reducing the chance of missing maintenance, which can lead to unexpected breakdowns or, worse, unsatisfied customers.
- Boosting customer experience: Users expect seamless, safe, and reliable rides. By setting automated checks based on feedback ratings, you can address any hiccups before they escalate, like a regular check-up triggered when user ratings dip, ensuring issues are handled swiftly.
- Optimizing resource allocation: Operators save time, money, and stress by allowing ATOM’s platform to handle task creation. Staff can then focus on actual maintenance rather than constant monitoring and task creation, ultimately lowering operational costs.
Examples of task automation in action
To illustrate how powerful Task Automation can be, here are some scenarios where it could make a real difference for fleet operators:
- Mileage-based maintenance: Automatically set oil changes or tire rotations every 5,000 kilometers. No more sticky notes or vague reminders—once the mileage threshold is hit, the task is created instantly, saving time and maintaining vehicle health.
- Feedback-based follow-ups: Let’s say you have a popular scooter, but a few users have noted a squeaky brake. Once the feedback drops below a specific rating, an automatic check-up task is created. That way, you don’t have to wait for a cascade of bad reviews before you act.
- Time-based cleanings: Hygiene is crucial, especially in shared mobility. You could set a task to clean and sanitize vehicles after a set number of hours or rides, ensuring each user gets a fresh experience without needing someone to track hours.
Task automation meets scalability: ideal for growing fleets
For any business with a growing fleet, Task Automation provides a clear advantage. By using parameters to generate tasks, you can scale up without needing additional manpower just to manage scheduling. As your fleet grows, Task Automation scales with you, handling more vehicles and keeping you updated on the health and performance of each.
Think of it as a maintenance manager that grows alongside your fleet without increasing your operational costs. It’s no longer about manually checking every vehicle at every mile marker; it’s about letting the system manage maintenance alerts while you keep your attention on strategic growth.
.png)
Getting started with task automation on ATOM Mobility
Setting up Task Automation is straightforward, but don’t hesitate to ask ATOM Mobility’s team for more detailed guidance. Here’s a quick overview to get you started:
- Select your trigger: Choose between kilometers, hours, ride count, or ratings, based on what matters most to your fleet.
- Define your task requirements: Each task is customizable, so you can specify different needs depending on the type of vehicle or its usage.
- Monitor with ease: Once in place, the automation will handle task creation. Just check in via the dashboard to monitor progress and handle any high-priority issues as needed. All the information and tasks are synced between the dashboard and fleet manager app.
ATOM Mobility’s commitment to innovation means we’re constantly updating our features to make fleet management more efficient and automated. Task Automation isn’t just a convenience—it’s an opportunity to elevate how you manage and grow your fleet in a sustainable way. With automation taking care of repetitive tasks, your team can focus on what really matters: delivering an outstanding experience to every rider.
Why now’s the time to automate with ATOM Mobility
The shared mobility industry is moving faster than ever, and staying competitive means embracing tools that make operations smoother and more efficient. ATOM Mobility’s Task Automation feature is a game-changer that brings automation to the forefront, allowing operators to focus on high-impact work while leaving routine tasks to the platform.
Whether you manage a fleet of e-bikes, scooters, or vehicles, automated maintenance can streamline your operations, prevent issues before they arise, and let your team work smarter, not harder.
Explore more about ATOM Mobility’s fleet management solutions on their blog and discover other products that can help you on your way to creating a micromobility fleet!
Driver App demo credentials - Email: test@atom.com, Password: driver
