Mayflower buys into GoCar car-sharing service

By CARSIFU | 17 February 2016

KUALA LUMPUR: Travel and car rental company Mayflower Acme Tours Sdn Bhd is buying a majority stake in technology start-up GoCar Mobility Sdn Bhd (GoCar), a car-sharing service.

The acquisition is part of Mayflower’s strategy to expand its presence in the mobility market, search for new mobility solution opportunities, and allow Mayflower to strengthen its share in the car service/livery business.

Following the acquisition, GoCar will become a subsidiary of Mayflower and will continue to operate under its own name and brand. Mayflower is a subsidiary of Warisan TC Holdings Berhad.

Founded in March 2015, GoCar is a startup that allows members to rent cars by the hour or day, through via a website or mobile app. Since its launch, GoCar has received over 5,000 hours of bookings for its cars located in Cyberjaya, Mont Kiara, Mid Valley, and Bangsar.

GoCar has been awarded the CIP 500 grant by Cradle Fund Sdn Bhd. The RM500,000 grant enables the car-sharing service to further expand into new markets, scale the tam, and boost its marketing reach.

“By joining the Tan Chong family, we will significantly scale our fleet, allowing us to expand to other regions in Malaysia seamlessly, as well as leveraging existing Mayflower’s airport and retail counters," said GoCar executive director T.J. Tan.