WheelsOn raises $12.5M to disrupt car rentals in the UAE
WheelsOn, the UAE’s mobile-first car rental platform, has closed a $12.5 million funding round, including $2.2 million in equity from a group of MENA-focused private investors, including partners of Xploration Capital, $6.5 million for a fleet expansion round, and $4 million financing from local banks. This latest round brings WheelsOn’s total funding to $12.5 million, pushing its valuation to $30 million.
The funds will be used to expand WheelsOn’s fleet, speed up product development, and grow its market presence. The company is rolling out advanced AI-powered dynamic pricing tools to improve fleet utilisation and smarter personalisation software that recommends vehicles, insurance, and rental periods based on user preferences. Upcoming tech features include digital car keys, enabling renters to unlock vehicles directly via smartphones for a contactless rental.
Founded in 2023 by Nikolay Melnichuk, Partner at Xploration Capital, and Adlet Shagirov (Co-Founder & COO), and later joined by Maxim Olivson (CPO), WheelsOn was created out of frustration with the traditional car rental experience. In the UAE, for instance, customers still face steep security deposits, hidden fees, and lengthy paperwork, making the process stressful for locals, expats, and tourists.
“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, CPO, WheelsOn.
Unlike aggregator platforms, WheelsOn owns and directly operates its entire fleet, controlling the complete rental experience to ensure consistent vehicle quality, transparent pricing without hidden fees, and reliable service. The company’s proprietary fleet management and vehicle tracking system monitors each vehicle in real-time, enabling proactive maintenance scheduling and operational transparency that safeguards customers and improves fleet availability.
This technological backbone is a key reason why WheelsOn can eliminate the need for large security deposits and reduce hidden costs: better fleet control and data-driven operations translate into less risk and more trust between renters and the company. WheelsOn’s technology also powers an enhanced customer support loop, integrating user feedback directly into product and service improvements, ensuring rental issues are swiftly addressed and customer satisfaction remains high.
The platform serves a diverse audience, offering multi-language support in English, Arabic, Chinese, and several European languages, including French, Italian, Spanish, and German. WheelsOn caters to locals seeking flexible monthly rentals, business customers who require premium cars or chauffeured vans for events, and tourists looking for convenient airport or hotel delivery.
Over the next few years, WheelsOn plans to strengthen its footprint in the UAE and expand to other Gulf countries where travellers and residents face similar rental frustrations. The company aims to grow its active user base to tens of thousands and to substantially increase its fleet capacity, meeting the increasing demand for transparent, flexible, and convenient car rentals.
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