Final Rentals Secures Wales' First NatWest IP-Backed Loan to Fuel AI Expansion

Cardiff-based Final Rentals has secured a six-figure intellectual property-backed loan from NatWest, marking the first time a Welsh business has utilized this specific lending proposition. This alternative funding model allows the car rental technology platform to leverage its intangible assets for capital without diluting equity, signaling a shift in how scaling fintechs finance technological infrastructure.

What was announced

Final Rentals has closed a six-figure funding round through NatWest’s specialized IP-backed lending proposition. This facility is designed for high-growth businesses that possess significant value in intangible assets but may lack the physical collateral required for traditional debt products. The assessment and valuation of Final Rentals' qualifying assets were conducted by Inngot, a specialist IP valuation firm that supports NatWest in identifying the underlying value of a company’s software and proprietary technology.

The capital injection follows a period of rapid scaling for the Cardiff-born firm. In the current year, Final Rentals has reported a 200% increase in bookings and has successfully launched operations in three new territories. The company’s footprint now spans more than 65 countries, operating as a global car rental franchise and technology provider. The new funds are specifically earmarked for continued investment in artificial intelligence, specialized GPUs, and broader technology infrastructure to support this international footprint. This financial milestone coincides with individual recognition for the company’s leadership; founder and CEO Ammar Akhtar was recently named Fintech Leader of the Year at the 2026 Wales Fintech Awards. The transition to debt funding represents a strategic pivot for the business as it moves into its fourth funding round, prioritizing the retention of equity while unlocking the value of its established intellectual property.

"The good thing is you don’t actually give away equity, so you can unlock value from something you’ve already built without giving up part of the business. It gives us the capital to keep investing in our technology, which in turn creates more IP and more value. I think it’s a very clever way of fundraising."

Ammar Akhtar, Founder and CEO of Final Rentals.

The companies involved

Final Rentals was founded in Cardiff in 2019 and has since evolved from a local Welsh start-up into a significant player in the global travel tech space. The company operates a technology platform and booking infrastructure that allows independent car rental operators to compete with major international conglomerates. By providing these smaller operators with access to a global customer base and standardized digital tools, Final Rentals has positioned itself as a critical intermediary in the fragmented car rental market. The business model combines a franchise approach with a centralized digital marketplace, focusing on markets where local operators require better digital visibility.

NatWest is a major UK retail and commercial bank that has increasingly focused on high-growth technology sectors through its dedicated Accelerator programs. Final Rentals’ relationship with the bank deepened in 2022 when Ammar Akhtar joined the NatWest Accelerator in Cardiff. The bank’s IP-backed lending proposition is a relatively recent addition to its portfolio, aimed at bridging the funding gap for "asset-light" technology firms. By partnering with valuation experts like Inngot, NatWest has created a framework to treat software and patents as viable collateral, a move that distinguishes its commercial lending arm from more traditional, property-focused debt providers.

What FF News has reported before

FF News has extensively tracked NatWest’s evolving role in the fintech and merchant services ecosystem. The bank has been active in forming strategic partnerships to address specific market challenges, such as when Tyl by NatWest and KuulSeats Partner to Tackle £17.6bn Hospitality No-Show Crisis, focusing on revenue protection for the service sector. Furthermore, the bank has shown a consistent interest in the intersection of finance and advanced computing, as seen when NatWest and Endava Partner to Revolutionize Merchant Payments with AI-Native Technology. In terms of broader funding facilities, the bank has also participated in large-scale asset-backed deals, including a significant agreement where Rural Asset Finance Agrees up to £120m Funding Facility From NatWest and BCI Capital, Supported by the British Business Bank.

What this means

This deal highlights a maturing of the lending market for high-growth technology firms. For years, fintechs were often forced into dilutive equity rounds because traditional banks struggled to value software as collateral. NatWest’s willingness to lend against IP in a regional hub like Wales suggests that the methodology for valuing intangible assets is becoming more standardized and accepted by Tier 1 institutions. This puts pressure on other high-street lenders to develop similar valuation frameworks or risk losing high-growth clients to more flexible competitors. For the car rental and travel tech sectors, it demonstrates that proprietary booking engines and AI integrations are now viewed as hard financial assets, capable of sustaining significant debt facilities.