HyreCar Adds PassTime to Its List of Strategic Partnerships | Auto Finance News | Auto Finance News

HyreCar Adds PassTime to Its List of Strategic Partnerships

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HyreCar, a platform that provides rideshare drivers with a pool of shared vehicles, strategically partnered with GPS solutions provider PassTime, the company announced this week.

The partnership was made through an existing alliance with DriveItAway, a dealer-focused shared mobility company. Through these interweaving partnerships, HyreCar will allow its dealership partners to quickly enter and learn the mobility as a service (MaaS) business, the press release notes.

HyreCar’s alliance with DriveItAway already enabled dealers and fleet owners to use the HyreCar platform to enter the mobility market and now dealers can utilize PassTime’s vehicle asset tracking and management. 

PassTime has set up a special-order portal for DriveItAway, where HyreCar dealers can “obtain vehicle telematics units” and dealers can integrate all of the PassTime services within its vehicle administration platform for easy vehicle specific applications.

HyreCar has made a few announcements that leverage strategic partnerships to support the startup, especially since going public. Those partnerships include HopSkipDrive and the National Independent Automobile Dealers Association. The next alliance on HyreCar’s radar is with ridesharing giant Lyft.

“We have a great relationship with Lyft we are trying to partner with them,” Joe Furnari, chief executive, told Auto Finance News. “We don’t have anything imminent, but that is a key priority for us.”

Since its inception in 2015, the company raised $12.6 million in an initial public offering of 2.5 million shares that started trading June 27. At press time, the company’s market cap reached $33.1 million.

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