Car rental startup Taiwa says the company has started the process of buying up car rental companies.
Taiwa’s CEO and cofounder, David Zee, says he has been working on the business for a couple of years and he’s looking for an investor.
“We’ve started a process where we’re trying to acquire a stake in the companies to help us get to a more stable valuation,” Zee said.
The company’s business has been on the rise for a while.
It has been profitable since January.
The Taiwa platform connects car rental firms to people who rent their cars on the Taiwa app.
The startup’s service was one of the first in the world to integrate with car-sharing services such as Uber and Lyft.