Karshare has launched a fundraising campaign on Seedrs, an equity crowdfunding platform enabling investors to invest in businesses they believe in and share in their success. We are thrilled to be giving people an opportunity to own a part of the Karshare business and help us grow.
Following our private launch, we have already raised 89% of our target of our £1m target with 220 investors already on board who are passionate about our mission to build a more sustainable, shared future.
The sharing economy, which Karshare is a part of, has grown by 60% in just the last 18 months. Boris Johnson’s emphasis on cleaner, greener mobility by the year 2030 will only further accelerate the shift from car ownership to car access, with 50% of car owners saying they will no longer want to own a car by 2025.
Investing on Seedrs means that anyone can own a part of the Karshare business from just £100. To make things easier, Karshare is eligible for EIS (Enterprise Investment Scheme) Tax Relief, a scheme created by the UK Government which allows investors to claim back up to 30% of the value of their investment in the form of income tax relief. That means if you make an investment of £10,000 you can save £3,000 in income tax.
In the instance that a business performs poorly and an investor loses money on their investment, investors can also claim EIS Loss Relief on the remaining value after tax relief has been applied. Using the above example, if you invest £10,000 and the business fails, you can claim the 30% tax relief (£3,000) and then claim loss relief on the remaining £7,000 relative to your income tax rate. If that rate is 45%, for example, you would receive £3,150, making your total loss only £3,850.
If a business you have invested in performs well and you have held the shares for at least 3 years, then all the gains that you have accrued on your shares may be exempt from Capital Gains Tax (a tax on the profit when you sell an asset that has increased in value). This means that if your investment was £10,000 to start with and is now worth £30,000 due to the business performing well, you will not have to pay Capital Gains Tax on the £20,000 if you decide to sell your shares.
For more information on how to qualify for EIS Tax Relief, please visit Seedrs’ website.
At Karshare, we believe that a community car sharing scheme should be centred around individuals, not fleet operators. Vehicles shared by real people means money from rentals is retained within the community, producing social and economic value. We are now raising money to expand our keyless car sharing platform to 4 new cities in 2021 and relaunch our airport sharing services imminently. The funds will also be used to build new features within our app such as in-app messaging and upgrades to our driver telematics, creating incentives for our community to drive with care. We will be expanding our product, design and delivery team as well as our on-the-ground community teams to support each city launch and develop grassroots campaigns.