Overview
HyreCar runs a carsharing marketplace aimed at the ridesharing industry. It connects private car owners who have idle vehicles with rideshare drivers who need cars to work for services like Uber and Lyft. This creates a two-sided platform where owners can earn money from cars that would sit unused, while drivers gain access to reliable rental cars without buying them. The platform operates online, matching owners and drivers, handling bookings and payments, and providing insurance for each rental. Revenue comes from fees charged to both sides: a share of the rental income for the owners and a service fee from the drivers, plus a commercial fleet solution for businesses with multiple vehicles. HyreCar’s goal is to expand the availability of car access for ridesharing by making car rentals flexible, affordable, and easy to manage for both individual owners and fleet operators.
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Simplify's take
What believers are saying
- Getaround reported HyreCar assets added up to $75 million annualized booking value.
- HyreCar's customer relationships strengthened Getaround's gig-carsharing leadership after May 16, 2023.
- The niche still benefits from Uber and Lyft driver demand for flexible vehicle access.
What critics are saying
- HyreCar filed Chapter 11 on February 24, 2023, then converted to Chapter 7 on August 29, 2023.
- Getaround bought substantially all HyreCar assets for $9.45 million in May 2023.
- A 2026 Delaware judgment found HyreCar fraud claims tied to undisclosed lender default information.
What makes HyreCar unique
- HyreCar built gig-driver underwriting and insurance workflows before Getaround bought the assets in 2023.
- Its marketplace matched idle cars with Uber and Lyft drivers, not leisure renters.
- The brand still signifies a niche gig-carsharing category, distinct from general car rental.
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