Collaborate Corporation (ASX:CL8) continues to roll ahead with its peer-to-peer businesses and on the look out for new investments.
In essence, peer to peer businesses enable the exchange of goods and services and in Collaborate's case for individuals and corporations to rent under utilised assets.
Airbnb comes to mind as an example of a market leader in the fast growth peer to peer accomodation rental market in the U.S., completely dominating and disrupting the hotel accomodation market.
The company raised $500,000 via a placement of shares at $0.02 with attaching options on a 1:2 basis to sophisticated investors for its marketing campaigns for DriveMyCar and MyCaravan.
Last month, the launch of the DriveMyCar product to corporate customers was able to build on rapid growth in the number of vehicles the company has available for rent nationwide.
DriveMyCar taps into private and company fleet vehicles that are under-utilised and sitting idle in garages and carparks around Australia.
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