OK Mobility

Founded: 2005 (as Logic Auto, initial car sales); OK Rent a Car brand 2010; rebranded OK Mobility 2020
Headquarters: Palma de Mallorca, Spain
Type: Private
Categories: Car rental; vehicle subscription and sales; mobility solutions
Markets: Europe (mainly Spain and surrounding countries)
Parent: OK Group (private company of Othman Ktiri)

Overview: OK Mobility is a Spanish car rental and mobility company that grew rapidly from a regional business to an international player. It was founded by Othman Ktiri, who started in car sales and used-vehicle distribution (Logic Auto, 2005) before entering rentals in 2010 under the name OK Rent a Car. The company focused on tourist markets (Balearic Islands, Mediterranean) and emphasized modern fleets and customer service. By 2020 it rebranded as OK Mobility to reflect broader services. According to media, OK Mobility now employs 450+ people with over 35 offices in seven countries, handling around 20,000 rental cars per year. The business model involves buying vehicles from manufacturers, renting them out, then reselling them through a sister used-car business. OK Mobility also offers a car subscription service (monthly plans with new cars). It remains privately owned by Ktiri’s family and has been notable for initiatives like profit-sharing with employees and plans for a stock-market listing.

Products and Services:
– Leisure car rentals (via the OK Mobility / OK Rent a Car brand) at airports and tourist destinations.
– Fleet leasing and maintenance services for companies.
– Vehicle subscription program (e.g. “OK Plus” monthly car plans).
– Used-car sales (resale of former rental vehicles) through sister companies.

Geography and Markets: OK Mobility’s main markets are Spain (especially the Balearic and Canary Islands) and Southern Europe (Italy, Portugal). It has expanded into Central Europe by signing up local franchisees (e.g. in Germany, France). The clientele is mainly leisure travelers and the local market for long-term rentals.

Ownership and Corporate Structure: OK Mobility is privately owned by its founder Othman Ktiri (via OK Group). It is not part of the large international chains. The company has attracted outside investment (e.g. expansion funds) but Ktiri remains in control. Reports suggest it is preparing for an initial public offering in Spain.

Key Dates:
– 2005: Logic Auto (used-car sales) founded by Othman Ktiri on Mallorca.
– 2010: OK Rent a Car brand launched (first rental car fleet).
– 2020: Company rebrands to OK Mobility to reflect wider services.
– 2021: Generated €294 million revenue (pandemic year) and rewarded staff from profits.
– 2023: Expanding in Europe; securing debt funding via Spanish markets.

(Sources: Company financial reports, SEC filings, official press releases, and reputable news outlets were used.)