Kiwi Fleet Compliance Innovator, Bonnet, Launches Crowdfunding To Accelerate Global Expansion

Fleet technology company, Bonnet has launched a crowdfunding campaign to take its innovative vehicle software one step closer to global expansion.

Bonnet aims to change everything about vehicle compliance, transforming a system managed manually in spreadsheets into an accurate, easy-to-use software system that can track an entire fleet's servicing, WOF, REGO, RUCs and COFs in one place. The software integrates real-time data from NZTA into an alert system, ensuring all vehicles using Bonnet are compliant, insured and safe on the road.

On average, Bonnet users save fleet owners approximately $8,500 and 240 hours per fleet each year by switching from spreadsheets to Bonnet.

“Bonnet has become an indispensable tool for businesses, particularly in the construction sector with some businesses previously tracking up to 150 vehicles at once manually,” explains founder, Steph Kennard.

Bonnet has a pre-money valuation of $4 million and is seeking $800,000 from investors in exchange for equity. This investment will see Bonnet expand its market share and extend its exclusive tech features in New Zealand in preparation to enter global markets.

Bonnet manages over 53,000 vehicles across New Zealand with month-on-month revenue consistently increasing, from July to August there was 85% increase in revenue due thanks to a change in approach that enabled fleet users to uncover the full potential of Bonnet.

The crowdfunding campaign has been spurred on by user interest in investment.

“A Bonnet user contacted us directly with an investment enquiry, so we put the word out to our whole database and received 250 investment enquiries almost instantly,” explains Kennard.

"This raise will help us to lay the groundwork for our international expansion and we would like to offer our customers to become an integral part of our journey and growth," Kennard says. Kennard says.

The funds will be used to accelerate sales and marketing in New Zealand, further develop Bonnet’s hardware-free vehicle connection feature – directly connecting vehicle computers to Bonnet via API, and prepare for expansion into the UK - a market ripe for disruption due to its upcoming RUC regulations and strict compliance requirements.

"Smaller businesses, especially those with passenger vehicles, are turning to us to manage their RUCs at a fraction of the cost charged by traditional GPS tracking companies that require expensive hardware," Kennard explains.

"The Ford Ranger and Toyota Hilux are among the most commonly managed vehicles on our platform, reflecting the needs of our users in the construction industry."

Bonnet’s journey is deeply personal for Kennard, whose passion for the automotive industry was sparked by her uncle, Dave Blyth, a pioneer in automotive software and web development in New Zealand. Growing up immersed in motorsport and technology, Kennard was inspired to explore the intersection of these fields.

While working at Fiat Chrysler in 2014 she noticed there was no comprehensive tool to manage vehicle compliance, leaving a significant gap in the market. Kennard launched Bonnet in 2022.

The global fleet management market was valued at $20 billion in 2020, and Bonnet is positioning itself to capture a significant share as more countries introduce stringent regulations including Governments moving to implement EV road user chargers. Bonnet is currently the only software available to reliably track RUCs across fleets.

Investors interested in supporting Bonnet’s growth and innovation are invited to participate in the equity crowdfunding campaign on PledgeMe. This is a unique opportunity to be part of a New Zealand tech story aiming to transform fleet management.

For more information and to invest in exchange for equity, visit the PledgeMe campaign page.

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