Splend

What Splend does

Splend is an Australian-headquartered vehicle subscription platform that provides rideshare drivers with all-inclusive weekly access to ICE, hybrid, and electric vehicles on a path-to-ownership basis. The company operates two core products — Flexi Own, a multi-year weekly subscription that bundles registration, CTP insurance, rideshare-specific loss and damage cover, scheduled servicing, replacement tyres/brakes, and unlimited kilometres into a single weekly payment with an eventual title transfer; and Flexi Try, a short-term minimum-six-week rental for drivers testing rideshare or EV economics before committing. Pricing is structured around weekly fees ($399/week illustrated for a Kia EV5 vs. $535/week DIY finance), one-off setup fees ($990 new, $495 pre-owned), and optional loss/damage waiver reduction fees, with no credit-history requirement and a stated 93% application approval rate.

The underlying platform combines a fleet-telematics and vehicle-management stack with proprietary Battery State of Health monitoring across Polestar 2, Tesla Model 3, and Tesla Model Y fleets (1,100+ readings, 94-95% average SoH), integrated with registration, insurance, and maintenance workflows. Splend's EV fleet stood at approximately 1,000 vehicles by end-2023 (financed in part by a $20M CEFC facility) and the company has stated an ambition to reach 10,000 EVs across Australia and the UK. Distribution runs through a digital-first website (splend.com), seven physical hubs across Sydney, Melbourne, Brisbane, Gold Coast, Perth, Adelaide, and Canberra, a $250/$250 referral program, and an embedded Uber partnership for EV supply to driver-partners across Uber Green and Comfort Electric categories. Cumulative disclosed funding totals approximately $800M+ across 2017-2025, with the $300M Macquarie debt facility (Dec 2024) the largest single capital event.

Name

Splend

Legal name

Splend

Website

https://splend.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

Splend is an Australian vehicle subscription platform offering rideshare drivers weekly all-inclusive access to ICE, hybrid, and electric vehicles on a path-to-ownership basis, serving 25,000+ drivers through seven physical hubs and an Uber partnership.

Ownership category

akta.pro rank

Product category

Vehicle Subscription Services

NAICS

Passenger Car Rental (532111), Passenger Car Leasing (532112)

SIC

Services-Auto Rental & Leasing (No Drivers) (7510)

akta.pro industry

PRIMARYTLABAAAE

Vehicle Subscription Services (All-Inclusive, Flexible Term)

Transportation & Logistics/Fleet Leasing, Rental & Management/Passenger Vehicle Leasing & Long-Term Rental (Cars/SUVs)

SECONDARYTHADACAC

Flexible-Term / Month-to-Month Car Subscriptions

Travel & Hospitality/Car Rental & Mobility Services/Car Subscription Services

SECONDARYTHADACAL

Used / Refurbished Vehicle Subscription Programs

Travel & Hospitality/Car Rental & Mobility Services/Car Subscription Services

Keywords

• Vehicle subscription services
• Rideshare car ownership
• Flexi own plans
• EV fleet subscription
• Rideshare insurance cover

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices7 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Vehicle Subscription Payments: Weekly subscription fees covering vehicle access, registration, CTP insurance, scheduled servicing, replacement tyres and brakes, unlimited kilometres, and optional loss and damage cover. Drivers pay one weekly payment for all-inclusive ownership costs.
2. Loss and Damage Cover: Optional weekly Loss and Damage Payment for coverage/indemnification in the event of accident, plus optional Loss and Damage Waiver Reduction Fee to reduce accident liability from $1,500 to $500.
3. Early Buyout and Vehicle Ownership: Drivers can work towards full vehicle ownership through Flexi Own plan over 3-5 years. Early buyout available when 12 months remain on agreement for $110 admin fee plus $1 balloon payment.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Splend provides subscription-based vehicle access plans for rideshare drivers in Australia, bundling a vehicle, registration, CTP insurance, comprehensive rideshare cover, scheduled servicing, replacement tyres and brakes, and unlimited kilometres into a single weekly payment under its Flexi Own plan (with ownership path) and Flexi Try plan (try-before-you-buy). Plans are available across new and pre-owned electric, hybrid and petrol vehicles, supported by physical hubs in seven Australian cities, an integrated vehicle management platform, and an embedded partnership with Uber.

Product overview

Splend is a subscription-based car ownership platform designed specifically for rideshare drivers in Australia. The company offers two primary subscription plans: Flexi Own, which enables drivers to work towards vehicle ownership through weekly payments including vehicle access, registration, CTP insurance, scheduled servicing, maintenance parts, and loss and damage cover; and Flexi Try, a short-term trial option. The product portfolio includes electric vehicles (Polestar 2, Tesla Model 3, Tesla Model Y, BMW i5, BYD Sealion 6/8), hybrid vehicles (Toyota Camry Hybrid, Kluger Hybrid, Hyundai Santa Fe Hybrid, RAV4 Hybrid, Lexus ES 300h), and ICE vehicles. Add-on products include EV Home Advantage with charger rebates, Loss and Damage Cover, the 10% Insurance Price Beat Guarantee, and replacement vehicle inclusion. The platform serves Uber driver-partners across multiple Uber ride categories (Green, Comfort Electric, Premier, XL, Max) with dedicated hubs in Sydney, Melbourne, Brisbane, Gold Coast, Perth, Adelaide, and Canberra.

Differentiator

Problem solved

Functional benefit

Products and services

• Flexi Own Plan Subscription-based car ownership plan for rideshare drivers in Australia that bundles vehicle access, registration, CTP insurance, comprehensive rideshare cover, scheduled servicing (up to 180,000 km), replacement tyres and brakes, unlimited kilometres, and optional Loss and Damage Cover into one weekly payment, with a path to full ownership over 3-5 years. Available across new and pre-owned electric, hybrid and petrol vehicles with setup fees of $990 (new) or $495 (pre-owned).
• Pre-owned Flexi Own Plan Pre-owned vehicle variant of the Flexi Own subscription, offering the same all-inclusive weekly ownership-path structure for used EVs, hybrids and petrol vehicles at a reduced one-off setup fee of $495.
• Flexi Try Plan Short-term, try-before-you-buy vehicle subscription plan with a minimum six-week commitment and the flexibility to hand the car back, designed for drivers testing rideshare work or evaluating EVs before committing to the Flexi Own ownership path.
• Splend EV Home Advantage Standalone program offering eligible Splend EV subscription customers a $1,799 rebate to convert a standard home wall socket into a dedicated home EV charger, with the stated potential to save up to $7,500 per year on charging costs.
• Uber Electric Vehicles Subscription EV subscription offering channelled through Splend's Uber partnership, providing Uber driver-partners with access to Polestar 2, Tesla Model 3, Tesla Model Y, BMW i5, Volvo XC60 Plus and other EVs eligible for Uber Green, Uber Comfort Electric and Uber Black ride categories, including financial incentives and bundled charging support.

Quantifiable outcome

• Weekly cost of $399 vs $535 for DIY car finance on Kia EV5 (based on October 2024 comparison)
• +3 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• UbercoreStrategic or Co-development Partner · 30 June 2025Uber partnered with Splend to offer Australian driver-partners access to electric vehicles including Polestar 2, Tesla Model Y, and Model 3 with financial incentives. The program addresses EV supply constraints and high upfront costs, supporting Uber's transition to electric vehicles. Uber's 2040 commitment to eliminate tailpipe emissions aligns with Splend's EV fleet expansion.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Hyrecar: US peer-to-peer car-sharing marketplace specifically targeting rideshare and delivery drivers. Solves a similar problem to Splend — getting vehicles into the hands of gig drivers — though via a different asset-light model.
• Bumper: UK-based vehicle payment platform that splits car costs into monthly instalments, often used by rideshare and gig economy drivers. Targets a similar customer profile to Splend and competes for the rideshare driver finance/subscription segment in another geography.
• Drover: UK-based flexible car subscription platform offering monthly all-inclusive vehicle access to individuals and businesses. Most directly comparable to Splend's subscription model, though Drover serves a broader consumer base rather than specifically rideshare drivers.
• Carly: European flexible car subscription provider (originally launched in Germany, now part of Volkswagen Financial Services) offering all-inclusive monthly subscriptions. Comparable to Splend's all-inclusive weekly subscription bundling insurance and maintenance.

Broad incumbents

• Avis Budget Group: Major global rental car operator with rideshare-focused rental programmes and an active EV transition strategy. Overlaps with Splend in the rideshare driver rental segment but operates at vastly larger scale and a broader customer base.
• LeasePlan: Global fleet management and vehicle leasing giant, now part of ALD. Operates large-scale vehicle subscription and leasing programmes in Australia and globally. Comparable in fleet/leasing DNA, though focused on corporate fleets rather than individual rideshare drivers.
• Hertz: Global rental car giant that has launched specific rideshare driver rental programs and is aggressively building an EV rental fleet. A broad incumbent competing for the same rideshare-driver rental customer with greater capital and brand recognition.

Others

• Macquarie Asset Finance (Specialised and Asset Finance): Splend's largest disclosed fleet financing partner, providing $300M of asset-backed finance in 2024. As a major fleet financing counterparty, Macquarie's broader asset finance book defines the comparable cost-of-capital and fleet financing economics Splend operates within.
• Pollen Street Capital (portfolio companies): Splend's existing investor and financier in adjacent specialty finance and asset-based lending businesses. Not a direct competitor but indicative of comparable business models and capital structures in the asset-backed vehicle finance space.

Emerging players

• Uber Vehicle Solutions (formerly Xchange Leasing): Uber's vehicle financing and leasing programmes for driver-partners, including partnerships with OEMs and EV-specific programs. Directly relevant as Uber's evolving vehicle strategy determines Splend's partnership value.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds12 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Splend