Caura keeps all the extra costs of motoring together in one handy app.
Caura will reduce the chances of penalty fines by bringing all of the additional costs associated with motoring under one umbrella, making them easy to keep track of and reducing anxiety for the motorist.
"The billions of pounds in penalty fees UK consumers incur from mistakes or late payments for parking, congestion charges, road tax, tolls, MOT and insurance are totally avoidable," said Dr Sai Lakshmi, CEO and founder of Caura. "The incumbent system - fragmented, confusing and outdated - is not only costly but a massive source of anxiety.
"By eliminating the need for dozens of apps and services, we are removing hassle, confusion and unnecessary expenses of car ownership."
Once they've downloaded the app, users input their vehicle registration to see the status of the car's tax, MOT and insurance renewal dates. The app's home screen can be also used to certain parking, toll roads and congestion charges. The app, which is regulated by the Financial Conduct Authority, is integrated with pay technology such as Apple Pay making it not only convenient, but safe, too.
So that motorists don't forget when to pay, the app sends notifications which could reduce the millions of automated fines sent to motorists all over Britain each year.
A quarter of MOTs are conducted late in the UK, that counts for a staggering eight million cars that could be on the road at any one time in a dangerous condition.
"Caura uniquely provides digital infrastructure desperately needed in today’s fractured and outdated ecosystem to provide a 21st century driving experience," said investor Rob Wilmot. "The team has done a remarkable job bringing together an entire industry, integrating private and public companies, government bodies with proprietary technology into a beautiful and simple-to-use app.
"Aggregating these services into a single interface will make life easier for millions of people every day."
Caura, which can be used for a single vehicle or multiple registered vehicles is currently only available on iOS, but will be on Android within the year.