Dubai - Sharikat Mubasher: WheelsOn, a Dubai-based digital car rental platform, successfully closed a $12.5 million round to accelerate its expansion and grow its market presence.

The funding included $2.2 million in equity from a group of MENA-focused private investors, $6.5 million for a fleet expansion round, and $4 million from local banks, the company clarified in a press release today.

WheelsOn will utilize the fresh capital to expand its fleet, fuel product development, and rollout advanced AI-powered dynamic pricing tools to improve fleet utilization and smarter personalization software that recommends vehicles, insurance, and rental periods based on user preferences.

This latest round raised WheelsOn’s total funding to $12.5 million, bringing its valuation to almost $30 million.

The platform’s expansion plan includes introducing tech features, notably digital car keys that enable renters to unlock vehicles directly via smartphones for a contactless rental.

Maxim Olivson, CPO at WheelsOn, commented: “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 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. It 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.

The platform serves a diverse audience, offering multi-language support in English, Arabic, Chinese, and several European languages, including French, Italian, Spanish, and German.