TrustedCars Flex (PreICO)

About TrustedCars Flex

TrustedCars is an Award-Winning German Company that is changing Car Ownership forever by turning dealerships into innovative mobility providers while offering customers a commitment-free, all-inclusive and affordable way to own a vehicle without ownership responsibilities.

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.

We are a Germany based company which has won several awards and was classified as an innovative company by the German Federal Office of Economics. We launched more than two years ago and have an established business and a successful product which is used by thousands.

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Ratings

Igor Karavaev

ico advisor and investor
Rated on May 8, 2018

5Team

5Vision

5Product

17%weight

Strong team and savvy advisors. Promising original idea if well implemented

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Simon ToprakICO team member replied on 9 May 2018

Hi Igor,
Thanks a lot for taking your time and evaluating our project.
This means a lot to us.
Simon
CEO & Founder
TrustedCars

Stephan De Haes

ICO Advisor, Community leader and COO/Co-founder Krypt.ly
Rated on May 8, 2018

4Team

5Vision

5Product

14%weight

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.

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Simon ToprakICO team member replied on 9 May 2018

Thanks Stephan for your review.
We really appreciate your feedback.
Best, Simon
CEO & Founder
TrustedCars

Michael Williamson

Blockchain Consultant, MBA, LSSGB, Former USA Financial Advisor, Insurance Agent
Rated on May 18, 2018

5Team

4Vision

5Product

13%weight

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

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Simon ToprakICO team member replied on 18 May 2018

Hi Michael,
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

Luke Szkudlarek

Growth Hacking ICOs from the heart of Crypto Valley
Rated on Jun 24, 2018

5Team

5Vision

3Product

10%weight

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.

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Simon ToprakICO team member replied on 25 Jun 2018

Hi Luke,
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,
Simon

Alexis Berthoud

Entrepreneur | C-level | ICO Advisor | Blockchain Enthusiast | Ethereum model specialist
Rated on Jul 7, 2018
Modified on Jul 7, 2018

3Team

4Vision

4Product

8%weight

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). ⚠️

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Simon ToprakICO team member replied on 9 Jul 2018

Dear Alexis,
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
Simon

Benchy

ICO analyzer bot

4.8ICO Profile

38%weight

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