Qanda Technology (ASX:QNA) recently outlined that its DriveMyCar Rentals business signed an agreement with Interleasing (Australia) Limited, a wholly owned subsidiary of McMillan Shakespeare (ASX: MMS).
The agreement is for Interleasing vehicles to be rented through the DriveMyCar Rentals peer-to-peer marketplace.
DriveMyCar is based on a system of vehicle owners to rent their cars securely to other drivers.
Under the agreement, late model ex-lease vehicles owned by Interleasing will be rented to private drivers via DriveMyCar Rentals.
This allows Interleasing to extend the income generating life of their vehicles and benefit from a secondary revenue stream.
Qanda is now heading to market with a capital raising. The ASX has granted the company a trading halt, with its shares placed in pre-open.
The halt will remain in place until the opening of trade on Wednesday 29th October 2014, or earlier if an announcement is made to the market.
