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Fleet Compliance on Autopilot
Bonnet is a SaaS platform that simplifies fleet management for small and medium-sized enterprises (SMEs) with 10-100 light vehicles. It addresses the cumbersome task of managing Warrant of Fitness (WOF), Registration, and Road User Charges (RUC).
Market Problem: Managing vehicle compliance is a tedious and error-prone task for commercial light vehicle fleet managers. Most rely on spreadsheets, risking mistakes, voided insurance, and missed compliance deadlines.
Bonnet's Solution: Bonnet pulls WOF, COF, REGO, and RUC data from NZTA via an API, presenting it in a user-friendly interface with a traffic light system that highlights priority tasks. Managers can quickly access up-to-date compliance details by entering a vehicle’s number plate and also manage insurance, warranty, and service records.
Key Product Features:
- Mobile App: Primarily for private vehicle owners; allows fleet drivers to manually enter odometer readings.
- Web App/Portal: Ideal for fleet managers; set up a fleet in under 3 minutes.
Market Traction:
- 501% growth since 2024 raise
- Current Reach: 5,041 paying vehicles in a market of 1.3 million business vehicles in NZ.
- Revenue: ~$360k in annual recurring revenue.
- Global Aspirations: Plans to expand globally.
Target Market:
- NZ TAM: 1.35 million light business vehicles.
- UK TAM: 3.87 million light business vehicles.
- Goal: Capture 10% of the NZ market by 2027 (375,000 vehicles = $13.5m ARR)
Team:
- Steph Kennard (CEO & Co-founder): Self-taught web designer with automotive industry experience, including partnerships with brands like Jeep, Maserati, and Nissan.
- Dave Webb (Co-founder & CTO): Specialist in cloud infrastructure with 25+ years’ experience in startups like LOVEFiLM and Zoopla.
- David Eldor (Chair of the Board): High-tech executive with 20+ years' experience. Former Managing Partner at a German electronics firm, leading China operations.
The Offer: Funds will be used for:
- Customer lead development
- Automate Compliance purchasing for consumers
- Scale Service Centre tool to acquire and activate customer bases
- Expand fleet features with inspection checklists
- Build AI-driven prediction models
- Begin OEM connectivity, brand by brand across NZ
Register your interest below, upon enquiry Enterprise Angels will contact you and under NDA, they will provide further information, term sheet, and access to due diligence materials.
