Fleet News

Tuskerdirect in £5m expansion

INTERNET-based leasing firm Tuskerdirect is to invest £5 million in business expansion following a major cash injection.

New investors include Shell Internet Ventures, a corporate venture capital firm set up by Royal Dutch/Shell last year and Northbridge Ventures, a subsidiary of First Rand Group of South Africa. Funding has also come from existing investors Smedvig Capital and Mitiska Net Fund Europe.

TuskerDirect was founded by joint managing directors Tom Stephenson and Tim Grant, formerly from GE Capital Fleet Services.

Stephenson said: 'This represents a huge endorsement for the offering we have brought to a very traditional market. We have signed more than 50 companies in the past six months.'

Tuskerdirect allows fleet managers to control aspects of their fleet through a PC, including vehicle orders and fleet choice lists. Drivers are able to list their choices of car and order electronically.

A spokesman for Smedvig Capital said: 'We have analysed the car leasing market and feel the service offering Tuskerdirect has introduced marks the company out as a future leader.'

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