WheelsOn Fuels Expansion with $12.5M to Revolutionise MENA Car Rentals

You know, every so often in the MENA startup ecosystem you come across a company that seems to be firing on all cylinders. WheelsOn, the UAE-based digital car rental platform, looks to be one of them right now. The team have just pulled in a hefty $12.5 million in fresh financing, and to say they’re chuffed to bits would probably be an understatement. I reckon it’s the kind of news that gets founders across the region peeking over the fence to see how things are going in the Emirates.

Let’s break down the numbers a bit. Of that $12.5 million, $2.2 million came directly from regional investors—which is always a good sign for homegrown support. There’s also $6.5 million lined up specifically to boost their car fleet, plus another $4 million pitch in from local banks. Not too shabby, and with this injection, WheelsOn now boasts a company valuation nudging $30 million.

What will they do with this war chest? The priorities look spot on for scaling a digital-first outfit: beefing up the fleet, fast-tracking product development, and grabbing more of the market. There’s also talk of rolling out snazzy AI-driven dynamic pricing tools so the whole fleet is used more efficiently—a bit of clever tech, frankly, that could set them apart from the crowd. They’re tinkering with recommendation engines as well, hoping to serve up just the right car or insurance package based on how users click about. And, for anyone fed up with losing keys, WheelsOn is planning to introduce digital car keys so you can just unlock your rental from your phone. Saves a bit of a faff at the desk, I guess.

One thing that stood out for me is that WheelsOn actually owns and runs its whole fleet themselves. That’s a bold move, but it means they’ve got full control over the cars, how they’re maintained, and even the pricing. Some might call it risky, but there’s logic: an in-house fleet, carefully tracked and managed (they use a real-time management system, no less) means they can act quickly if something needs repair or a car’s not up to scratch. No wonder they offer flexible monthly rentals, luxury wheels for corporate gigs or big events, and even handover at airports or hotels.

The story so far is pretty new—WheelsOn only launched in 2023—but you can see their drive. The company was brought to life by Nikolay Milnichuk and Adlet Shagirov, with Maxim Olivson joining later. Their platform is all-digital, designed for smartphones and web, and—here’s a welcome touch—absolutely no need for paper or up-front deposits. That’s the sort of simplification that can really win over renters who are tired of endless form signing. And believe it or not, after a couple of years writing for Arageek, I can spot a regional innovator from a mile off.

Of course, the broader car and mobility market in MENA is changing faster than you can say “automated handover.” WheelsOn’s approach is certainly ambitious, and while I’m not a fan of companies biting off more than they can chew, their model of full control could make all the difference if executed well… provided they don’t drop the ball on scaling up.

At the end of the day, it’s another example of a homegrown platform daring to shake things up. And as always—from my little corner here at Arageek—I can’t help but wonder who’s going to be next to put the pedal to the metal.

🚀 Got exciting news to share?

If you're a startup founder, VC, or PR agency with big updates—funding rounds, product launches 📢, or company milestones 🎉 — AraGeek English wants to hear from you!

✉️ Send Us Your Story 👇

https://en.arageek.com/send-us-your-story-or-a-news-tip