Image: Instagram/@mannypacquiao
A car rental technology startup, set to launch later this year, has found its champion in boxing icon Sen. Manny Pacquiao.
Graventure announced on Thursday that Pacquiao had invested an undisclosed sum during the company’s seed fundraising round—so-called because it covers an early stage in a startup’s life.
It was said to be the champion boxer’s first-ever tech investment.
Pacquiao will also be the official endorser of Graventure, which aims to streamline the cumbersome process of renting a car via an easy-to-use web and mobile platform.
The company, to be launched in the third quarter of 2018, was founded late last year by Gracy Fernandez, Kaiser Dapar and Marie Ritz Pay Seng.
Fernandez has experience in the car rental business, giving her first-hand knowledge of the issues plaguing the sector.
“Renting out even a single car before was a chore, but through Graventure, it will be easy to manage the rental of even multiple vehicles or a large fleet. Just as how many Filipinos have earned extra income by renting out their properties, I ultimately hope that more of us will be able to create a profitable business through Graventure,” Fernandez said in a statement.
She said an introduction with Pacquiao was made through his chief of staff.
“I pitched Graventure to Pacquiao and discussions accelerated from there. He shared my team’s passion in solving a major pain point for our country’s car renters and car providers,” Fernandez said.
The company promised that customers can find their perfect vehicle that matches their budget, schedule and desired specs “in a matter of minutes” using Graventure.
“I like that Graventure will solve a problem that will help many Filipinos in Manila and across the country. They will be able to find and rent a car much more easily, and that’s important. They can now focus on going places instead of surfing the web all day,” Pacquiao said in a statement.