Finalrentals Secures Spot in Tech Nation Libra Programme

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Foundry Alumni Finalrentals Secures Spot in Tech Nation Libra Programme

Welsh-based startup and Foundry Alumniu Finalrentals is making waves in the tech industry as it secures a coveted spot in Tech Nation’s prestigious Libra Programme. Founded and led by Ammar Akhtar, Finalrentals stands out as the sole Wales-based business among a select cohort of 25 innovative startups.

Tech Nation’s Libra Programme is dedicated to empowering and connecting underrepresented tech founders, providing them with invaluable resources, networks, and tools essential for scaling their ventures. This initiative addresses the disparity in venture capital investments, particularly among Black and Multi-Ethnic communities, highlighting the importance of inclusivity and diversity in the tech sector.

Finalrentals, established in December 2016, boasts a remarkable journey fueled by Akhtar’s decade-long experience in the rental car industry. Despite starting with no external investment, the company has flourished, securing significant backing from the Development Bank for Wales, Fuel Ventures, and prominent angel investors within the Welsh ecosystem.

With operations spanning 27 countries and 400 locations, Finalrentals has access to a fleet of 98,000 vehicles and ambitious plans to create over 100 jobs in Wales, primarily in Cardiff. Akhtar envisions establishing a substantial headquarters in Cardiff, aiming for a valuation of £1 billion by December 2028.

Having previously operated in the UAE and Poland, Finalrentals found its home in Wales in 2022 and has since thrived within the vibrant ecosystem. Akhtar attributes this success to Wales’ abundant talent pool, access to investment, and supportive mentorship networks, including institutions like Tramshed Tech and FinTech Wales.

Tramshed Tech, Finalrentals’ current base, serves as Wales’ leading tech innovation hub, offering connected workspaces, comprehensive business support programs, and specialized skills training. Through initiatives like the Soft-Landing Programme, supported by the Welsh Government, Tramshed Tech facilitates international businesses’ seamless integration into the Welsh tech landscape.

For businesses seeking to expand or relocate to Wales, the Soft-Landing Programme presents a unique opportunity. Participants receive tailored support over 12 weeks and six months of complimentary office space at Tramshed Tech’s Innovation Station in Newport, South Wales.

As Finalrentals continues its journey, Akhtar’s vision for the company mirrors Wales’ burgeoning tech scene—dynamic, inclusive, and ripe with opportunities for growth. With initiatives like the Soft-Landing Programme fostering collaboration and innovation, Wales solidifies its position as a thriving tech hub on the global stage.

To read the full blog post, visit the Wales247 website.

Apply for the Soft-Landing Programme here.