Karfu, the vehicle and ‘mobility’ comparison website raises £300,000 on Crowdcube
Drivers and riders facing a confusing array of purchasing, finance, leasing, subscription, rental and sharing models will soon be able to get all the information they need thanks to a successful crowdfunding campaign by a revolutionary vehicle comparison website, Karfu.
Set to shake up the vehicle access landscape, Karfu hit its investment target of £300,000 on crowdfunding platform, Crowdcube, and the money raised will help generate awareness with consumers and vehicle and mobility brands, while building a community of money-saving, sustainability-minded experts.
Aimed at buyers of all types of vehicles be it cars, scooters, pick-ups, bikes, motorbikes – pretty much everything on wheels, Karfu’s ambitious founding team are confident it will be as successful as MoneySuperMarket.
In the runup to its official launch later this year, the investment will support further development of the product, with interactive testing with consumers of its comprehensive vehicle and mobility comparison tool, as well as its sales and marketing efforts.
When it goes live, Karfu promises to give consumers real power when considering their next vehicle. It’s a hugely data-driven service drawing information from myriad sources to give consumers a helping hand and enable them to tailor their choices accordingly.
All people must do is answer a few simple questions about their needs and budget, leaving the service’s clever algorithms to trawl through millions of options for all manner of vehicles and ways to gain access to them that suit their individual needs.
From cars and motorbikes to electric scooters and pickups, Karfu will consider the total cost of ownership of every possible vehicle type by analysing more than 20 individual factors – from depreciation and road tax to servicing and insurance – to compare the true cost of mobility over a period of time.
Beyond traditional purchasing and leasing options, the service also will compare the cost of subscription, rental, sharing and other mobility services, giving the broadest possible choices that could meet each consumer’s individual circumstances and preferences.
The service also delivers a unique environmental life-cycle assessment, detailing the CO2 impact of the production, delivery, use and recycling of their chosen option, giving consumers the opportunity to make decisions that improve their own sustainability.
Sam Ellis, Karfu’s Co-founder and CEO, said:
“We’re delighted to complete our crowdfund and gain more vehicle obsessed, money-saving focused investors. With this fundraising complete, our plan is to launch and get to the heights of MoneySuperMarket in the vehicle-comparison world. We want to shake up the whole vehicle buying process and enable consumers to make informed decisions before they part with their cash.
Karfu is a totally unique proposition: it will be the first site ever to include a range of vehicles – not just cars or bikes – and we also calculate the vehicle’s lifetime CO2 impact. Now more than ever people want to make decisions that are sustainable for the environment and Karfu helps them to do that.
It’s about the total ownership cost. Most of the time people might base their decision just on a monthly PCP deal, for example, but they might be comparing apples with oranges. By assessing people’s needs with a few basic questions, we can establish whether it’s best for a consumer to buy outright, lease, hire purchase or even go down subscription or sharing routes. It’s all in the mix.
The rising cost of living means consumers need to be smarter with their money. By considering all the options, even those that traditional consumers feel they know little about, Karfu will help them be better informed and able to make decisions that save them time, money… and the planet.”
