18 November 2019

 

  • $2.2m placement
  • Provision of vehicles subject to demand and economic terms
  • Investment supports further expansion of mobility solutions and revenue streams

 

SG Fleet Widens Service Offerings in Australia Through Strategic Investment in Collaborate

 

SG Fleet, which has its headquarters in Australia, has bought a strategic stake in Collaborate Corporation Limited, investing $2.2 million, in order to widen its service offerings. 

Collaborate’s main operations are based on a sharing economy business model, with a strong focus on mobility solutions. The company’s core businesses are car subscription ‘Carly’ and a range of peer-to-peer vehicle rental offerings.

With Carly, users pay a monthly subscription fee to access any vehicle from the entire fleet available. This service gives more flexibility as they can pause or stop their subscription whenever they want, or change the vehicle according to their needs.

Under the agreement, SG Fleet will provide vehicles to Collaborate to facilitate further growth within the Carly business, subject to demand and economic returns.

SG Fleet has already established its presence in Australia, as well as in the UK, in the emerging mobility solutions segment. It takes the lead in the fleet management and leasing industry with a range of services targeted at optimising its customers’ approach to transport.

The company currently offers vehicle sharing solutions to a range of organisations and provides mobility consulting services to companies moving towards an integrated, multi-model approach for their employees.

SG Fleet’s Chief Executive Officer, Robbie Blau, commented: “We are constantly introducing new, high value-add solutions to both corporate customers and consumers to cater for their rapidly evolving mobility requirements. Our investment in Collaborate further strengthens our ability to widen our offering as demand for greater transport efficiency and flexibility intensifies. This complements our current core business activities and opens up additional revenue growth avenues.”

Any enquiries about this news release should be made to Chris Salmon, Commercial Director of sgfleet.

Email: csalmon@sgfleet.com  

Tel: 07885 804979

SG Fleet and Collaborate Logos