Hoberman and Stelios in easyCar revamp

Hoberman and Stelios in easyCar revamp

Lastminute.com co-founder Brent Hoberman is being linked to a deal with Sir Stelios Haji-Ioannou as part of a multi-million pound co-investment to revamp the EasyCar rental business.

EasyCar will develop a person-to-person car club allowing people without cars to rent allocated slots of time in their neighbours' vehicles.

The system will run via a new website, with all cars fitted with tracker systems for safety and security. It will allow users to rent cars from locations closer to their homes than traditional car rental offices, at potentially cheaper rates.

The car club will operate alongside EasyCar's existing car rental business, which made a pre-tax profit of £822,000 in the year to September.

Hoberman is set to invest in the business through PROfounders Capital, the venture capital business which he runs, according to the Sunday Telegraph. He will join the board of easyCar, as will Rogan Angelini-Hurll, general partner at PROfounders, it was reported.

EasyJet founder Sir Stelios is also expected to raise his investment in the business.

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