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- Orcoda is teaming up with Koala Cars to run a six-week car rental trial
- The company’s existing software will be used to form an all-in-one services app
- The application will allow customers to book, pay, and sign documents
- Orcoda also wants its tech to facilitate car unlock and ignition like Tesla
- ODA last traded at 25 cents
ASX-listed fleet management software provider Orcoda (ODA) has entered into an agreement to launch a six-week car rental trial.
Orcoda will collaborate with Koala Cars, a privately held rental solutions provider, to introduce a new product to its customers called “Orcoda Rental Connect.”
The company will utilise its existing software and technology to provide customers with a comprehensive app for rental car applications and submissions.
Orcoda Rental Connect will consolidate bookings, payments, and document signing within the app, along with an advertised feature allowing users to open and start the vehicles using the Orcoda app.
The vehicles for this initiative will be supplied by Koala, which already boasts a fleet of more than 1000 vehicles in its asset base.
“The car rental, long-term rental and car sharing markets in Australia, and internationally, are vast and dynamic,” ODA Managing Director Geoff Jamieson said.
“This trial could be the start of something significant for both our organisations and we are excited about the potential for growth and innovation that it brings.”
Car rental and subscription services have been gaining popularity since the saturation of the market with Uber availability, leading many drivers to opt for vehicle rentals. This sector is also proving popular in a high inflationary environment.
This news comes in a press release and not in an ASX announcement.
ODA shares last traded at 25 cents.
