WheelsOn, the UAE’s mobile-first car rental platform, has closed a $12.5 million funding round to expand WheelsOn’s fleet, speed up product development, and grow its market presence.
The funding included $2.2 million in equity from a group of MENA-focused private investors, including partners of Xploration Capital, $6.5M for a fleet expansion round and $4M financing from local banks.
This latest round brings WheelsOn’s total funding to $12.5 million, pushing its valuation near $30 million.
According to Maxim Olivson, CPO at WheelsOn,“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,”
WheelsOn is working on advanced AI tools for dynamic pricing, vehicle personalisation, 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.
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.
WheelsOn plans to strengthen its footprint in the UAE and expand to other Gulf countries where travellers and residents face similar rental frustrations. it’s presently available 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.