Drive Lah has raised US$6 million in a Series A funding round led by ComfortDelGro Ventures, with participation from angel investors.
The Singapore-based peer-to-peer car-sharing and rental platform operates across Singapore and Australia, connecting car owners with renters through its marketplace.
Growth Momentum and Business Performance
Drive Lah reported 26% revenue growth and a 20% reduction in losses as of December 2024, reflecting improving unit economics and operational efficiency.
Founded in 2018, the company has now raised more than US$10 million to date, with backing from investors including KFC Ventures and HH Investments VC.
Strategic Backing from Transport Player
ComfortDelGro Ventures, the investment arm of Singapore-listed transport operator ComfortDelGro, is backing Drive Lah as part of its strategy to support innovation in mobility and transport services.
Outlook for Platform Expansion
The new funding is expected to support Drive Lah’s continued platform development and expansion across its existing markets.
As a peer-to-peer model, the company focuses on growing its network of car owners and renters, rather than owning vehicles directly, enabling a more asset-light approach to scaling.
Maria Lourdes
