The global online crane rental platform, MyCrane, has secured a multi-million dollar sum to fund the next phase of its ambitious growth plans.
According to MyCrane founder and CEO Andrei Geikalo, the substantial financial investment will support expansion in critical global markets including the US and Saudi Arabia, where the company will establish its own operations.
MyCrane said it raised the finance from private investors as part of a Series A funding round. The capital will also be deployed to accelerate sales and marketing activities around the world, as well as boosting operations in Asia Pacific and South Asia, where the platform is already active.
Established in 2021, MyCrane is designed for contractors and clients in a variety of industries who can quickly and easily rent the lifting equipment they need. The free, easy-to-use online service negates the need to invest time and energy making offline contact with numerous potential suppliers.
In just 18 months, MyCrane has already launched its service in key global markets, with technical development, sales and marketing all performed in-house. The online platform is also available in Southeast Asia.
Mr Geikalo commented, “The trust placed in us by our investors will power the next phase of MyCrane’s growth in the coming 18 months and is an endorsement of our vision to improve the crane rental procurement process, which was outdated and flawed prior to our launch.
“This Series A funding marks a milestone in the MyCrane story. It will help bring our service to more global markets and allow us to keep innovating for the cranes and construction sector.”
MyCrane currently has more than 3,000 registered customers, and more than 15,000 cranes available to hire at the platform. Registration is free for both users and equipment rental companies.
Customers of the MyCrane platform can simply and quickly request a crawler, mobile or tower crane without having to rely on manual processes, such as calling suppliers or making multiple offline requests. Boom trucks, crane manipulators/crane arm, man lifts, mini cranes, cherry pickers, aerial platforms and hydraulic gantry systems are also available.
The service, managed by MyCrane’s head office team in Dubai, offers cranes with a capacity of between 100 kg and 750 t. The online platform has been carefully designed to ensure ease of use, and that the quotes generated are directly comparable.