How a Fintech Startup Revolutionised Deposit-Free Rentals with Wallester Business — CARDOO CYPRUS LTD
Company Profile
A Cyprus-based fintech company founded in 2022, it specialises in deposit-free rental solutions for the car rental and real estate industries. Their flagship product, DepositFree, eliminates the need for traditional security deposits by placing deposits on behalf of customers.
The Challenge
Traditional rental models require customers to provide large security deposits, creating a financial burden and limiting accessibility. The company needed a flexible payment solution to handle deposits efficiently and cover potential damage costs.
The Solution
By integrating Wallester Business Cards, the company streamlined its deposit process:
Instant Deposits — Cards are used to place deposits with rental providers, enabling seamless transactions.
Damage Coverage — If a customer damages a rental car or property, Wallester cards facilitate quick payment for repairs, ensuring continued trust with rental partners.
Scalability — Initially used in Cyprus and Malta, the company has expanded across the EEA, partnering with multiple rental providers.
The Result
Efficient financial operations — No need for cumbersome bank transfers or traditional credit lines.
Rapid Expansion — Enabled operations in multiple EEA countries.
