Collaborate Corporation Ltd’s (ASX:CL8) strong December quarter should assist in funding its expansion in the collaborative consumption industry, particularly in launching its caravan rental platform.
Cash receipts have grown markedly in four consecutive quarters with rental transaction values hitting a new record of $814,000 in the December quarter, a 33% increase on the September quarter.
The company’s flagship DriveMyCar business reached a new record of 309 vehicle activations in the quarter, up 68% on the previous corresponding period.
Looking to 2018, the launch of Australia’s first dedicated peer-to-peer caravan rental platform (www.MyCaravan.com.au) with a no-tow option for owners and renters is expected to be well sought after.
RACV DriveMyCar instrumental in expanding position in Victoria
RACV DriveMyCar was launched in September 2017, and the business achieved a 137% increase in rental transaction value between November and December.
To put this in perspective, this eclipsed the growth achieved across the rest of the Australian DriveMyCar business, indicating the traction that can be gained from such partnerships.
Earlier in the year Collaborate Corporation worked with Subaru as it launched its new Impreza vehicle, resulting in 101 Impreza’s being rented within two weeks, mainly to Uber drivers.
A marketing partnership was forged with Housing Industry Association Insurance Services in December aimed at securing listings of building and construction assets on the company’s Mobilise platform.