WheelsOn, a mobile-first car rental startup based in the UAE, has secured $12.5 million in funding to scale its platform and challenge traditional rental agencies. The round includes $2.2 million in equity from MENA-focused investors, including partners of Xploration Capital, $6.5 million for fleet expansion, and $4 million in bank financing. The new capital brings WheelsOn’s valuation close to $30 million.

The funds will accelerate fleet growth, product development, and market expansion. Key initiatives and new features include AI-powered dynamic pricing, personalization tools that recommend vehicles and insurance based on user profiles, and digital car keys for contactless rentals via smartphone.

WheelsOn was founded in 2023 by Nikolay Melnichuk (Partner, Xploration Capital) and Adlet Shagirov (Co-Founder & COO), later joined by Maxim Olivson (CPO). The company was built to address pain points still common in the UAE: high deposits, hidden fees, and lengthy paperwork.

“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,” explained Olivson.

Unlike aggregator-style platforms, WheelsOn operates its own fleet, giving it full control over quality, pricing, and customer service. A proprietary fleet management and tracking system monitors vehicles in real time, ensuring proactive maintenance and transparent operations. This infrastructure also enables the company to eliminate deposits and reduce hidden costs, translating into greater trust with users.

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The platform supports multiple languages, including English, Arabic, Chinese, French, Italian, Spanish, and German. It serves a wide audience, from locals seeking flexible monthly rentals, to businesses requiring premium cars or vans, to tourists wanting delivery at airports or hotels.

Looking ahead, WheelsOn plans to deepen its UAE presence while preparing to expand across the Gulf. With online bookings projected to account for 87% of car rental revenue in the UAE by 2030, the startup is positioning itself to capture demand with a transparent, flexible, and fully digital model.