Zevo, the first peer-to-peer electric vehicle (EV) sharing marketplace, has secured $6 million in funding to support expansion into major metropolitan areas across the United States. The company, which allows EV owners to rent out their vehicles through a fully contactless platform, raised the capital through pre-seed and seed rounds from private investors aligned with its mission.
Unlike traditional rental models, Zevo’s platform connects EV owners directly with renters, providing an income-generating opportunity for vehicle owners and flexible access to EVs for users—particularly gig economy workers—without the burdens of ownership. The funding will be used to scale operations, enhance its backend technology, and increase customer acquisition as the company prepares to enter new markets.
Founder Hebron Sher emphasized Zevo’s focus on values-driven scaling, saying, “We’ve deliberately taken the harder path—bootstrapping and raising mission-aligned capital—so we could build a product- and customer-first company.”
Zevo’s model has already proven successful in states such as California, Texas, Arizona, Florida, and Nevada. The company highlights the story of one host who reportedly earned over $240,000 in a single year by renting out a fleet of Teslas, showcasing the financial potential of its network.
Sher added that the platform aims to be a solution for cities seeking cleaner transport options: “We believe that cities benefit when transportation is shared, electric, and locally owned. Our platform provides exactly that—low-emission, high-impact mobility without institutional barriers.”