Tuesday November 1st, 2016

Read about the latest sports tech news, innovations, ideas and products that impact players, fans and the sports industry at SportTechie.com.

Former NBA player Linas Kleiza is investing in Baltic Arrow, a car-sharing platform in his native Lithuania that is funded by Nextury Ventures.

Kleiza, who played four seasons with the Denver Nuggets and three with the Toronto Raptors, appeared at the press conference announcing Baltic Arrow. The platform enables users to temporarily exchange vehicles with others, possibly for a luxury vehicle, something more fun, or with more space. Downgrading vehicles earns users Baltic Arrow points that they can later splurge on a nicer one.

Kleiza not only invested in the company, but also powers it as he appears in the intro video exchanging his Audi RS6 sports car for another user’s Jeep Grand Cherokee so that he can go fishing.

Baltic Arrow founder Rytis Kričenas told Startup Lithuania that for now, points are used rather than money with this free service that he hopes will expand elsewhere in Europe and even to American markets.

“Basically, you never know when you will need a car different from your own,” Kričenas said. “Sometimes you need some extra space and maneuverability when going to lake resort or at off-road places. Of course, you can rent a car for these occasions, but I personally found this solution to be complicated – many papers to fill, big expenses, etc. However, there are many cars and drivers around that own a car of your interest, but don’t need it at some point. So why not exchanging the car for a while for some earnings?”

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