EFAY Car Rental Partners with FasterCapital for Strategic Expansion
Kingston, Saturday, 15 November 2025.
EFAY Rent A Car teams up with FasterCapital to expand into Caribbean and North Carolina markets, leveraging global networks for fleet modernization and competitive market entry.
Strategic Partnership Announcement
On November 15, 2025, EFAY Rent A Car, a well-established Jamaican car rental company, announced a strategic partnership with FasterCapital, an influential global venture builder. This collaboration is set to facilitate EFAY’s expansion into the Caribbean and North Carolina markets. By leveraging FasterCapital’s extensive network and capital-raising expertise, EFAY aims to modernize its fleet and enhance its competitive position in the car rental industry [1][2].
Goals and Market Expansion
The partnership with FasterCapital is pivotal for EFAY as it seeks to overcome current operational constraints, including capacity limitations and an aging fleet. By affiliating with FasterCapital’s EquityPilot program, EFAY plans to deploy a $1 million capital raise to upgrade its fleet with electric and low-emission vehicles. This move aligns with global trends towards sustainability and eco-friendly travel options [1][3].
Enhancing Market Competitiveness
EFAY’s strategic initiative includes establishing a strategic airport office in Montego Bay and launching operations in Charlotte, North Carolina, by 2026. This expansion is designed to capitalize on the growing demand for car rentals, driven by rising international tourism and consumer preference for environmentally friendly vehicles. Additionally, EFAY intends to build a scalable franchise network across Jamaica and beyond, setting a foundation for long-term growth and market dominance [1][2].
Long-Term Vision
By 2027, EFAY aims to transform into an internationally recognized franchise operator, delivering sustainable mobility solutions that generate significant foreign exchange and local employment. FasterCapital’s support will be crucial in achieving these objectives, providing EFAY with access to a global network of investors and strategic partners. This partnership underscores EFAY’s commitment to innovation and adaptability in a rapidly evolving market landscape [3][4].