Nextury Ventures and basketball player Linas Kleiza have unveiled their mutual 6-digit investment into Baltic Arrow, a car exchange platform.

Baltic Arrow offers users to submit their cars to a website and to have it temporarily exchanged with other users. This would allow to have a test ride a of one's interest car for some time.

Rytis Kričenas, Baltic Arrow CEO, says this platform will be of value for users seeking a temporary car – either a practical or a fun one. It is another alternative to taxis or rent.

Initially, the service will be free of charge, and new users will benefit from a 100 EUR first-timer voucher. After 6 months, a 10-15% transaction fee would be introduced, Ilja Laurs from Nextury suggests.

The service launches in Lithuania today, but it sees major Western markets as the area for future expansion.

Exact sum of investment has not been disclosed today. Baltic Arrow currently employs 4 fulltimers.