Join the Club

Reducing your carbon footprint has become a priority for many people in the UK and it seems investors are as keen to pump cash into all things green.

We noted that Whizzgo, the pay-as-you-go car hire business has been in the news again this week - this time with the launch of the scheme in Sheffield.

Whizzgo's concept is to provide cars to hire by the hour, at short notice, within a few minutes walking distance of a drivers home and workplace. By offering a car club service that is convenient giving up your car is now becoming a real alterative.

Managing director Charlotte Morton pitched for funding at the Connect Yorkshire Investment Forum in November 2005 and since then, Whizzgo has netted quarter of a million pounds worth of funding from Yorkshire venture capital group Viking Fund.

It seems other investors have recongised the potential of the car club phenomenon and we noticed that Streetcar the UK-based self-service car rental company, raised £6.4m (€9.5m) from Smedvig Capital this week.