Co-lease your dream sports car for 40% of the normal cost, without any of the associated hassle.
Orto is a co-leasing service for sports and luxury cars. Starting with this innovative new service model, our long term vision is to build a premium automotive lifestyle business that will deliver all of our customers’ driving needs – performance cars, day-to-day transport, and related lifestyle planning – through a single, brilliant service.
PRODUCTS & SERVICES
Orto lets people share a single car with three other people on a long term basis – giving them all the driving they want, whilst reducing the cost by over 60% and taking away all the chores.
It works like this:
– Four unrelated people buy in to a single car worth between £40k and £100k, joining one at a time through our website
– Each customer has 85 days per year with the car, which they book via the Orto calendar, with inbuilt rules to ensure fairness of access
– And Orto takes care of all the details: the all-inclusive fees include collection and delivery, insurance, maintenance, and more
The world is full of people who love cars, but find it hard to justify buying their dream car. That’s because they know getting a car just for fun is expensive, inefficient, and a lot of hassle; whilst renting or using a car club means you don’t have ‘your’ car and introduces complexity, additional costs, and inconvenience.
Orto solves this problem for people who either don’t need a car for day-to-day transport, or already have one, but would like a special car in their lives for trips away and the fun of driving.
We charge customers an upfront fee when they join a car, followed by all-inclusive monthly fees through to the end of the car’s two-year term. At the end of the term, discounts are offered for re-joining.
Our model sets up long-term, high value relationships with our customers. We will also provide a range of value-adding additional services on a commission basis:
– Short term rentals: for those who want even more access to amazing cars
– Regular leases: for those customers who want an everyday car on top of their co-leased car
– Orto Experiences: provides recommendations to customers for places and events they might like to visit whilst they have their car booked
As a result of the change the automotive industry is undergoing, there are a growing number of established firms taking stakes in relatively new businesses. Examples include Volkswagen and Gett, General Motors and Lyft, and Toyota and Uber. We ourselves as an early stage business are talking to a leading leasing company about partnering on co-leasing as part of their innovation programme.
We therefore anticipate the most exciting exit opportunities for our investors will be
through sale to a strategic buyer such as a major leasing company, rental company, or
manufacturing group in Y5 to Y8. The target would be to achieve a 10 to 20 times
investment multiple at this point.