WheelsOn, the UAE-based digital car rental platform, announced it has raised USD 12.5 million in a new funding round. The round includes USD 2.2M equity from MENA-focused private investors, including partners of Xploration Capital, along with USD 6.5M for fleet expansion and USD 4M financing from local banks. This brings the company’s valuation to approximately USD 30M.
The funds will be used to expand WheelsOn’s fleet, accelerate product development, and strengthen its presence in the UAE and GCC markets. The company also plans to roll out AI-powered dynamic pricing tools to optimise fleet utilisation, alongside personalisation software that recommends vehicles, insurance, and rental periods based on user preferences. Upcoming features include digital car keys, allowing renters to unlock vehicles via smartphones for a seamless, contactless experience.
“Our mission is to rethink car rentals by offering full transparency, digital convenience, and a product that puts users in control. We remove deposits completely, eliminate paperwork and counter queues, and give customers a seamless experience all through our intuitive mobile app and website,” said Maxim Olivson, Co-Founder and CPO of WheelsOn.
Unlike traditional providers, WheelsOn owns and directly operates its fleet, ensuring consistent quality, transparent pricing, and proactive maintenance through its internal tracking and management system.
The platform offers flexible monthly rentals, premium cars for businesses and events, and convenient airport or hotel delivery. Founded in 2023 by Nikolay Melnichuk and Adlet Shagirov, later joined by Maxim Olivson, WheelsOn is reimagining mobility across the Middle East with a fully digital-first rental experience.
