About TrustedCars Flex
TrustedCars was founded more than 3 years ago (June 2015) and has an established business and a successful product which has won several highly regarded awards.
Most recently named one of the most innovative and interesting Blockchain Projects in Germany by the Federal Ministry for Economic Affairs and Energy.
Imagine you can walk into your local car dealership, request the vehicle of your choice and drive it as long as you want, where no long-term contracts are required or hidden costs come as a surprise, and all for a low weekly payment.
With TrustedCars Flex you can choose any vehicle you want from the available inventory of participating car dealers within the TrustedCars Flex network, digitally sign for it in the app and you are ready to go. Drive the vehicle you like as long as you want and return it or swap for another vehicle anytime.
With our unique combination of technology expertise and deep industry relationships we have designed a solution that offers consumers a convenient way to own a vehicle without ownership responsibilities. In parallel we offer dealerships an additional source of income and access to a new generation of consumers.
TrustedCars Flex as a high-tech company helps dealerships move up the technology change curve, with an easy accessible all-in-one solution. It takes a car dealer in excess of 100 days on average to sell a vehicle, with the related holding costs ($15 per day per vehicle). We provide a technological solution for dealers to resolve both sides of the income statement issue: increase in revenue and reduction in holding costs. Instead of vehicles taking space, they are on the road making money to offset inventory-financing and other expenses.
Rated on May 8, 2018
Modified on Jul 30, 2018
Strong team and savvy advisors. Promising original idea if well implemented. Thorough whitepaper, but more financial and business planning numbers should be added
Rated on Aug 15, 2018
Interesting use of the blockchain with identity tracking - this time for vehicles. Commercial viable, although there are obstacles to true adoption here. Execution on the roadmap would be key.
Rated on Aug 23, 2018
Good team and good vision. Most importantly, they have proved themselves by winning awards. However, I think the team has to be bigger for sure and more financials should be shown as well.
This is not financial advice or a recommendation to invest in this or any other ICO. Investors must perform their own due diligence and not rely on external ratings to make their final investment decisions. ICOs are risky and 100% loss of capital is possible.
Rated on Oct 30, 2018
Solid team of domain expertise.
Comprehensive whitepaper with detailed finance information required by investors.
Liked the MVP and unique vision of owning the car without ownership. I would like to have one :-)
One of the great projects around.
Rated on Aug 29, 2018
Very Interesting use of the blockchain with identity tracking for vehicles. Team is good. Whitepaper is well written. They need to do some strategic connections and partnerships with car dealers and manufacturers.
Rated on Oct 26, 2018
Good Team with good advisory board. Unique Concept. Great vision. WP quality good. KYC Done. MVP is available, Wish them to get proper success.
Disclaimer: This is an independent review on the ICO and does not lead to investment advice. ICOs are risky, kindly do your own research before investment.
Rated on May 18, 2018
in my opinion, this is a very cool concept, however there are other companies that have a similar product. One of the hardest aspects of this business is scalability, apparently they are having success with expanding.
"In excess of 100 of the largest and most renowned dealerships in Germany already trust and work with us. With more than 30,000 listed vehicles in 2017 and currently more than 8,000 vehicles available for purchase, we are one of the largest Online Shops for used vehicles in Europe."
Intersting to see how this company expands, I think adoption may prove to be a challenge.
*Please see my profile for disclosures
thank you for your review and pointing out the scalability problem.
This is actually one of our core strengths and how we differ from other concepts.
By working with dealerships and utilizing their inventory we have the infrastructure to expand really fast.
Other concepts are either flexible or affordable or convenient but none of them really offer a great consumer experience.
(We pointed out the differecens to car-sharing, p2p car-sharing, leasing, rental etc. in the whitepaper.)
After 3 years of working closely with dealerships and talking to thousands of customers we were able to identify the challenges in this industry and to design a solution which is going to fundamentally transform the customer experience.
Btw we just received an invitation from the Federal Ministry of Economic Affairs and Technology here in Germany to present our project in the ministry in Berlin next week. It is considered one of the most interesting and promising ideas in this industry :)
Kind regards, Simon
Rated on May 8, 2018
Very interesting project with an unique concept. Team has experience and is surrounded by quality advisors with lots of experience in their trades. ICObench kyc done. 65% of tokens will be sold in the crowdsale which is a very good allocation for future investors. Already an existing company with good partnerships.
We really appreciate your feedback.
CEO & Founder
Rated on Sep 3, 2018
Team: Strong team, a lot of professionals from Germany which is know of high quality car industry knowledge.
Vision: Very innovative idea, excellent use of many possibilities of blockchain technology.
Product: There is a lot of competition in this field. More numbers and financial data would give a full 5/5, but still strong 4/5.
Disclaimer: This is not an official investment advice or a recommendation to invest in this ICO. Investors must perform their own due diligence and not rely on ratings to make their final investment decisions. Investing in ICOs has it risks and 100% loss of capital is possible.
Rated on Jun 24, 2018
awesome idea, which will help us save the planet if implemented. I'm also sure the team means well and is able to deliver because trustedcars.com already exists.
The only red flag for me is the existing platform trustedcars is still based on car ownership, is essentially a website where you sell used cars, I don't see the connection between the token, so they are starting from scratch.
Maybe one of the founders can explain.
thanks a lot for your time and your feedback.
About your concern regarding TrustedCars.com, we actually founded TrustedCars more than 3 years ago as as One-Stop Shop for purchasing cars. It's been called several times the Amazon for Cars by the Media in Germany and we won awards for this concept as well.
In short: Customers order a car completely online, even used cars. Used cars are being checked by experts and delivered to the customer, no matter where he lives. Incl. a full warranty (min. 12 months) and a 14-day money back guarantee. We made buying a car as easy as ordering a book online :)
And we don't own any cars, instead we market and sell the vehicles of our car dealer partners.
After 3 years of working closely with dealerships and talking to thousands of customers we were able to identify the challenges in this industry and designed a solution which is going to change car ownership forever.
So I hope the fact that we founded TrustedCars 3 years ago as an Online-Shop which offered the safest and most convenient way to purchase a car isn't a red flag but shows that we didn't just think of the new concept sitting on the sofa but after years of working in this industry and working on a technology to revolutionize the automotive industry.
We have deep industry relationships (for example more than 100 of the largest and most renowned dealerships in Europe are our partners) and the technology expertise which will help us to expand really fast and establish the FLEX Token as the main payment method and reward system in the automotive industry.
I hope you will reconsider the Product Rating :)
Kind regards from Frankfurt/Germany,
Rated on Sep 18, 2018
The team and the advisors are excellent. The idea is really nice, it's really promising if implemented. The WP is ok, but it could use more financial and business planning numbers and the MVP is not that clear. The concept is really unique even though the product is not as original.
Rated on Jul 7, 2018
Modified on Jul 7, 2018
Nowadays it isn't enough to make a beautiful website and promise something in the future.
Now, to become a successful project and receive necessary investments it is important to:
- Innovation level - incremental - ➖
- Show the MVP (product, prototype) - Not clear ✅
- Strong Competitor analysis ✅
- Core Team ✅and not multi-position team
- marketing ICO budget ✅
- Events calendar ❌
- have agreements with exchanges ❌
- Business revenu Forecasting ❌
- show ROI to investors ❌
- have max. transparency ✅
- have legally protected product ⚠️
- work actively with the community ⚠️
- have a powerful team and advisors ➖
- meet investors F2F ⚠️
- have a descriptive WP (with clear financial model). ⚠️
thanks a lot for taking your time and rating our project.
You are absolutely right that a beautiful website isn't enough. This is why it should be mentioned that we have founded TrustedCars 3 years ago and have so far received several awards for our project. And not only Start-Up awards but awards within the Industry and most recently from the Federal Ministry for Economic Affairs in Germany.
About your points:
- meet investors F2F
--> We are currently visiting and speaking at a lot of Blockchain/Crypto events, most recently in Amsterdam/Frankfurt/London/Seoul... If you have suggestions which to visit, happy to discuss.
- have legally protected product
--> This was for us as a Germany based company with strict jurisdiction very important. We have 2 lawyers and 1 certified public accountant in our advisory board who helped us to prepare the ICO. Furthermore we talked to government officials in Berlin.
- have agreements with exchanges
--> We are currently negotiating with exchanges and have already pre-agreements. We are going to announce them very soon.
- work actively with the community
--> We have a 24/7 support on all social media channels and on Telegram and we meet the community at events as well.
- show ROI to investors
We don't want to be like most ICOs and show charts with overpromising Token development. Instead we will overdeliver.
Most recently we were able to close a deal with a large Crypto Fund. They probably wouldn't have agreed to such a deal without a convincing Business case and a promising future ROI.
Thank you again for your time
Kind regards from Frankfurt
Rated on Sep 2, 2018
-Well worked out tokenomics with vesting schedule for team members
-Holds potential to change complete vehicle ownership model
-Win win for customers and dealers as it promises to provide paperless flexible experience
-Previous experience in similar line of business is positive indicator
-Needs to focus more on business plan, marketing plan and defining milestones for penetrating this mature market
-Coming from Germany + Automobiles instills confidence in the project
Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.
Ratings and ICO analyzer results are being updated (re-calculated) every few hours.
TeamApply as an advisor
Founder & CEO - M.Sc. in Management from the University of Mannheim (#1 Business School in Germany)
Founder & CTO with +15 years experience in implementing cutting-edge technologies and solutions
Head of Sales & Operations
Head of Development
Head of Front-End Development
E-Commerce & Logistics expert. Former CEO at two of the largest online pharmacies in Europe
Head of Marketing
Head of Pricing & Growth - Ph.D. University of Mannheim
Head of Business Development
Advisor - Serial entrepreneur and leading expert in blockchain and cryptocurrency Industries
Advisor - Managing and Investment director of VC Funds Sferiq Venture Capital Fund and Imperious Group
Prof. Dr. Hans-Hermann Dirksen
Advisor - Professor for Business Law | Blockchain and Smart Contracts Advisor
Dr. Simon Hassannia
Advisor - Head of Business Innovation at ATU, Germany's leading automotive service provider with over $1 bn. turnover
Advisor - Leading expert in blockchain and cryptocurrency Industries
TrustedCars founded – with the vision of bringing online-shopping as a major part of modern society on to the automotive industry.
- Launch of TrustedCars.com
- Establishment of various partnerships: with TUV for the inspection of used cars, with the largest bank for car-financing, with renowned car dealerships and with insurance & warranty companies.
- Seed financing
- Series A Financing.
- Relaunch of TrustedCars.com - with very high level of automation for the quick upload of cars through the implementation of a dealership-interface and the DAT database.
- TrustedCars is one of the largest Online-Shops for cars in Europe.
- More than 30,000 cars listed on TrustedCars in 2017, with more than 100 car dealerships participating.
- Participation at IAA as an Exhibitor – the largest Fair for mobility and the automotive industry in the world.
TrustedCars FLEX Token Sale.
- Development and integration of blockchain and smart contract technology.
- Token listed on Exchanges.
- Beta Launch with our existing car dealership-network in Germany.
- Official product launch in Germany. Release of iOS and Android App enabling customers to get a car with a few klicks on their phone.
- Launch of payment system enabling users to receive and make payments in TrustedCars FLEX Tokens.
- Translation of website into various languages.
- Concrete plans set and ready to expand to UK, France, Italy and Spain. Including Multi-Language support.
- Expansion to the rest of Europe.
- Extension of FLEX Tokens for payment of various automotive services, like car wash, parking and other vehicle related services.
- Expansion to USA and key cities worldwide.
- Onboard advertisers and retailers to promote products using FLEX Tokens (Further value increase of FLEX).