Nov. 21, 2018

A matchmaking company that connects ride-sharing drivers with owners of an extra car sitting in the driveway has arrived in South Dakota.

HyreCar, which was founded in 2014 in San Francisco, has been operating in 34 states and recently expanded to include the remaining ones.

The platform operates similar to AirBnB. Car owners list their vehicle on the site, and an Uber or Lyft driver who either doesn’t own a vehicle or has one that doesn’t meet a ride-sharing company’s standards rents the car. HyreCar takes care of the payment transaction between the two parties and provides insurance.

Lyft is the only ride-sharing service operating in Sioux Falls and a few other South Dakota cities, but that doesn’t limit HyreCar’s interest in the market.

“That’s the beauty of the tech-enabled platform,” CEO Joe Furnari said. “All we need to do is connect one person with one car.”

As of last week in Sioux Falls, two cars were listed on the platform. Fifteen owners and 30 drivers had registered to use the service. To learn more, visit hyrecar.com.

“We’re just getting the word out that this a viable source of income for both parties,” Furnari said.

Used-car dealers are using the service too, Furnari said.

“We are working with dealerships with used-car inventory sitting around. We’re enabling that inventory to be cash flowing by renting to drivers.”

The rental agreement can be short term or longer.

“Typically, the initial rental is 48 hours, and then it’s 24-hour (periods) going forward,” he said. Rates can vary based on the type of car and the demand for service, just as they do with Lyft and Uber.

“That’s the beauty of the platform. It’s individual to individual, deal by deal.”

The owner of the car sets the price. “It’s very similar to AirBnB,” Furnari said. “We’re giving you a suggested price based on the market.”

South Dakotans who use the service will benefit from the later rollout, he said.

“We’ve really been able to hone the operation,” Furnari said.