Splend Pty. Ltd.

Based in Australia, Splend Pty Ltd specializes in providing innovative vehicle ownership solutions tailored for rideshare drivers, simplifying the complexities of car ownership and enhancing operational efficiency. Splend Pty Ltd, founded in 2015 and headquartered in Sydney, Australia, focuses on delivering vehicle ownership solutions specifically for rideshare drivers. The company has completed 9 deals, with the most recent funding round occurring in January 2025, where it raised USD 100 mn from IFM Investors. Brian Tran is the founder of Splend, while Chris King serves as the CEO.

Splend specializes in providing comprehensive vehicle ownership solutions tailored specifically for rideshare drivers in Australia. The company's core offerings include a simplified car ownership model that encompasses vehicle registration, insurance specifically designed for rideshare operations, maintenance, and servicing, all bundled into a single weekly payment. This model aims to eliminate the complexities and financial burdens traditionally associated with vehicle ownership, making it easier and more affordable for rideshare drivers to operate. Splend primarily serves individual drivers engaged with platforms such as Uber, enhancing operational efficiency while allowing them to focus on maximizing their earnings.

The company’s services extend across Australia, catering to urban and suburban markets where ridesharing is prevalent. Splend generates revenue through a subscription-based model, which encompasses the provision of rideshare vehicles and associated services to individual drivers. Clients pay a weekly fee that consolidates all vehicle-related expenses, such as leasing, insurance, and maintenance, into one predictable cost. This pricing structure allows drivers to manage their finances more effectively while accessing vehicles suited for rideshare purposes.

The flagship offerings include various models, such as electric and hybrid vehicles under the Flexi Own plans, which enable drivers to select from a range of options based on their preferences and earning potential. By maintaining a focus on affordability and transparency, Splend establishes a robust transactional relationship with its clients, contributing to its position in the rideshare vehicle ownership market. In January 2025, Splend Pty Ltd raised USD 100 mn in venture funding from new investor IFM Investors. The company will utilize the funding to promote electric vehicle (EV) acceptance, build specialized EV charging infrastructure, and accelerate its growth ambitions in other regions.