Geysir

What Geysir does

Geysir Car Rental is a family-owned Icelandic car rental operator founded in 1973 by Guðlaugur Bergmann and headquartered at Keflavík International Airport (KEF) under the legal entity Geysir Ltd. The company serves international tourists visiting Iceland, with a secondary pickup point at Reykjavik Downtown Airport. Its platform combines a direct-to-consumer online booking engine with real-time inventory and instant quote generation — a capability the company highlights as a first-mover in the Icelandic market following its 2003 re-establishment in its current form.

The product portfolio spans five core vehicle categories — City Cars, 4x4 Cars, Luxury 4x4 Cars, Passenger Vans, and Campers & Motorhomes — drawn from a fleet of approximately 1,000 vehicles sourced from manufacturers in North America, Europe, and Asia. Ancillary revenues come from tiered insurance products (Gold Insurance and Zero Excess), WiFi and GPS rentals, child safety seats, and roof-top-tent accommodations through a 2024 iKamper partnership. The technology stack is centered on the geysir.is booking platform with multilingual support (English, Spanish, French) and integration with government toll/tax platforms for road-tax and Vaðlaheiðargöng tunnel pass-through collection.

The business model is direct-to-consumer with a transactional pricing structure: base daily rates include CDW insurance, unlimited mileage, and VAT, with road tax billed at 8 ISK per kilometer, an airport tax of 5,600 ISK, and optional add-ons priced per day. Distribution combines direct website bookings, OTA exposure through Booking.com (the source of its 2021/2022 recognition awards), and organic social channels. Customers can pay in full upfront (with 48-hour free cancellation) or hold a booking with a 15% non-refundable deposit. The company employs 51-100 staff and holds Iceland company registration 661093-2699.

Name

Geysir

Legal name

Geysir Ltd.

Website

https://geysir.is

Company type

Private

Founded year

1973

Operating status

Operating

Headcount range

51–100 employees

Short description

Geysir Car Rental is a family-owned Icelandic car rental operator founded in 1973, serving international tourists visiting Iceland with a fleet of approximately 1,000 vehicles across city cars, 4x4s, luxury SUVs, vans, and motorhomes, distributed through a direct-to-consumer online booking platform and pickup at Keflavík International Airport and Reykjavik Downtown Airport.

Ownership category

akta.pro rank

Product category

Car Rental Services

NAICS

Passenger Car Rental and Leasing (53211), Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing (53212)

SIC

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

akta.pro primary industry

Self-Drive Car Rental (THADAAAF)

akta.pro secondary industries

Campervan Rentals (Class B / Converted Vans) (THADAIAA), Light-Duty Cargo Van Rentals (THADAJAA)

Keywords

• Car rental services
• Vehicle rental
• Airport car pickup
• Tourist transportation
• Motorhome rental

Headquarters

HQ city

Keflavík

HQ country

Iceland

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Marketing or Sales, Infrastructure, Others

Revenue model

1. Vehicle Rental Fees: Core revenue from renting vehicles including cars (economy, compact, 4x4, luxury), passenger vans, and motorhomes. Pricing includes unlimited mileage, CDW insurance, and VAT. Road tax of 8 ISK per kilometer is charged separately.
2. Insurance Products: Additional insurance tiers including Gold Insurance (20-26 EUR/day depending on vehicle type) and Zero Excess Insurance (40-52 EUR/day) that provide comprehensive coverage with varying deductible levels.
3. Rental Extras and Add-ons: Additional products and services including WiFi (10 EUR/day), GPS navigation, booster seats (5 EUR/day), infant seats, child seats, and roof top tent accommodations.
4. Airport and Road Fees: Collection and passing through of government-mandated fees including airport tax (5,600 ISK at KEF), tunnel tolls (1,850-2,400 ISK for Vadlaheioang tunnel), and national park parking fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Geysir Car Rental rents a fleet of approximately 1,000 vehicles — including economy and compact cars, 4x4 SUVs, luxury 4x4s, passenger vans, and motorhomes/campers — to international tourists visiting Iceland. The company distributes rentals primarily through its online booking platform with real-time inventory and instant quotes, with physical pickup inside Keflavik International Airport arrivals hall and a secondary location at Reykjavik Downtown Airport. All rentals include CDW insurance with lowered excess, unlimited mileage, 24/7 emergency hotline, winter tires (Nov 1 – Apr 15), and optional add-ons such as Gold/Zero Excess insurance upgrades, GPS, GeysirMobile WiFi, and child safety seats.

Product overview

Geysir Car Rental is an Icelandic car rental company offering a diverse fleet of approximately 1,000 vehicles across multiple categories. The core product portfolio includes City Cars (economy/compact), 4x4 Cars (for Iceland's F-roads and rugged terrain), Luxury 4x4 Cars, Passenger Vans (8-17 passengers), and Campers & Motorhomes (including roof top tent options). The company operates from two locations: Keflavik International Airport and Reykjavik Downtown Airport. Add-on services include Gold Insurance and Zero Excess Insurance packages, WiFi devices, GPS navigation, and child safety seats. The company emphasizes carbon neutrality initiatives and has partnerships with iKamper for roof top tent camping experiences.

Differentiator

Problem solved

Functional benefit

Products and services

• City Cars Economy and compact vehicles (manual and automatic) for urban driving and paved-road touring in Iceland, marketed to travelers who do not require 4x4 capability.
• 4x4 Cars Four-wheel-drive SUVs suitable for Iceland's F-roads, mountain routes, and winter conditions, rented to adventure and self-drive tourists needing higher ground clearance and traction.
• Luxury 4x4 Cars

Quantifiable outcome

• Free cancellation available until 48 hours before pickup on prepaid rentals
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Three partnerships are on record, tiered minor and core.

• iKamperminorStrategic or Co-development PartnerGeysir partnered with iKamper to offer roof top tent rentals for Jeep Wrangler and Jeep Compass vehicles, providing customers with premium tent-camping experiences in Iceland.
• Booking.comcoreChannel Partner/ Reseller/ DistributorGeysir Car Rental is listed on Booking.com as a car rental provider. Received Certificate of Excellence and Traveler Review Award from Booking.com for 2021 and 2022.
• Icelandic GovernmentcoreOthersGeysir collects Icelandic Road Tax (8 ISK per kilometer) and Vaðlaheiðargöng tunnel tolls on behalf of the Icelandic government. Company registration: 661093-2699, VAT ID: 39949.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Avis Iceland: Global rental brand with Iceland airport presence, offering passenger cars, SUVs, and vans. Comparable in airport-based car rental serving tourists and business travelers, with international brand recognition.
• Hertz Iceland: Global incumbent rental brand operating a broad Iceland network with airport locations and a large fleet. Comparable as a full-service competitor in the same tourist segment but with brand power, fleet scale, and corporate-channel reach Geysir cannot match.
• Budget Iceland: Value-oriented global rental brand operating in Iceland, including Keflavik Airport. Comparable as an airport-based competitor with broader fleet access and OTA distribution.
• Sixt Iceland: European-headquartered rental brand operating Iceland locations with a wide fleet and digital booking. Comparable in product offering but competes as a global brand with cross-border loyalty programs and corporate contracts.
• Europcar Iceland: Global rental brand with Iceland operations serving airport and downtown locations. Comparable in core car rental offering with broader geographic reach and corporate fleet services.

Regional players

• Rent.is (Hagkaup / Hertz franchise): Icelandic-rooted rental operation with broad fleet at Keflavik and Reykjavik locations. Comparable in product mix and tourist customer base, though operated with a different corporate structure.

Direct peers

• Lava Car Rental: Icelandic car rental company operating from Keflavik Airport with a multi-category fleet including 4x4s and campervans. Direct peer competing on price, fleet breadth, and airport convenience for international tourists.
• Blue Car Rental: One of the largest independent car rental companies in Iceland, operating a broad fleet from Keflavik Airport and Reykjavik. Directly comparable as a domestic independent competing for the same tourist segment with similar vehicle categories and insurance structures.
• Lotus Car Rental: Iceland-based independent car rental with airport pickup and a wide range of economy, 4x4, and camper vehicles. Direct competitor targeting the same international self-drive tourist customer with comparable insurance and unlimited-mileage offerings.

Emerging players

• Ice Rental 4x4: Iceland-based rental specializing in 4x4 and SUV vehicles for F-road and mountain driving. Comparable as a niche competitor targeting the same adventure-traveler segment that Geysir serves with its 4x4 lineup.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/geysircarrental
• Facebookfacebook.com/geysircarrental
• Instagraminstagram.com/geysircarrental

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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 Geysir