British multi-modal cost comparison platform Karfu has raised over £300k in a crowdfunding campaign, exceeding its target.
The startup allows consumers to compare the costs of owning a vehicle and of using it as a service, including cars, vans, pick-ups, motorcycles, mopeds, bicycles, scooters and alternatives.
Karfu compares the total cost of vehicle use and other access options such as leasing, subscriptions, sharing, rental and mobility-as-a-service models.
It then offers the most affordable option based on the consumer’s needs, location, budget, preferences and environmental impact.
The crowdfund raise will support further development of the product, with interactive testing with consumers as well as its sales and marketing efforts.
Karfu’s Co-founder and CEO Sam Ellis told Zag Daily: “We’re excited to have overfunded on Crowdcube, as the additional funds give us the ability to bring in additional software engineering resources to reduce our time to launch.”
Ellis said the funds will also help the company to expand its implementation of Open AI’s Chat GPT technology to help them create news and aggregate review content, besides providing “highly personalised vehicle recommendations.”
Sustainability
Beyond cost, the service also delivers an environmental life-cycle assessment of the transportation options. It details the CO2 impact of the production, delivery, use and recycling of the options, enabling consumers to make decisions that improve their own sustainability.
“Now more than ever people want to make decisions that are sustainable for the environment and Karfu helps them to do that,” said Ellis.
Platform launch
Set to be launched later this year, a beta version is available for registered users in the UK. According to Ellis, the company plans to expand the service outside the country in the long term.
“We have already secured our EU trademark, with the USA pending, as expanding beyond the UK is part of our long-term strategy as we seek to help consumers and businesses save time, money and the planet by nudging them towards more sustainable vehicles and mobility options,” said Ellis.
