BENGALURU: Bengaluru-based vehicle and bike lease enterprise Drivezy India Travels Pvt. Ltd has crossed month-to-month gross merchandise extent (GMV) of $4 million (approximately ₹27 crore), according to a pinnacle organisation executive. The organization’s fleet comprises 15,000 bikes and four,000 cars.
“We internet around 22% of the $four-million month-to-month GMV,” said Drivezy’s chief govt Ashwarya Singh over telephone.
The company additionally launched a franchise on Monday thru which it plans to offer motors and motorcycles really worth ₹2.Eight crore to capability proprietors for up to three years. It seems to establish over 100 franchise gadgets across 21 cities over the next 12 months, it said in a statement.
Drivezy will provide patron courting control infrastructure, marketing, branding and patron care help to franchise proprietors in trade for a 25% commission on every reserving.
Drivezy lets in customers to find and e book bikes and vehicles on its cellular app and through its internet site. Users can choose up a car at targeted spots, with the choice to either use it for a short length or rent it for up to 30 days.
The organization has set apart $1.5 million to put money into its franchise business, and will also offer vocational and technical training to executives hired by using the franchises.
Since its launch in 2015, Drivezy (previously JustRide) added one hundred fifty choose-up and drop places in eleven cities, including in Mumbai, Pune, Mysore and Delhi.
Singh said the enterprise is now within the procedure of adding five,000 -wheelers to its fleet in the subsequent month. “We need to recognition more on two-wheelers, due to the fact this is where most of our new acquisitions are coming from.”
It is including choose-up stations throughout Bengaluru. “We agree with that whoever is able to capture actual property in this business in a metropolis could be an overall winner perhaps four to 5 years down the road,” delivered Singh.
Drivezy does not personal cars on its platform; rather it partners with person owners, asset management businesses, industrial fleet operators and automobile dealerships to enlist their motors on its platform.
It had announced a $100 million asset financing deal, that is presently parked in a special cause entity referred to as Harbourfront Capital, which changed into hooked up in collaboration with AnyPay in November. It has so far raised $40 million from traders inclusive of Das Capital, Y Combinator and White Unicorn Ventures.
“Around $seventy eight million is left from our $a hundred million asset financing fundraise. Around 60% of that $seventy eight million will cross into -wheelers and the rest will move into cars over the next 7-8 months,” he stated.
Drivezy competes with self-power condo startups which include Zoomcar and Revv, which give cars on a subscription-based model. Mint said remaining month that Drivezy and Zoomcar held talks for an same merger deal amid Zoomcar’s ongoing $500 million fundraise.
Zoomcar had suggested sales of ₹158 crore with losses of ₹116 crore in the economic year ended March 2018, in line with documents sourced from business information platform Paper.Vc.
Bengaluru-based totally Revv, however, mentioned sales of ₹15.5 crore in FY18 and losses of ₹2.Nine crore, as in step with documents sourced from Paper.Vc.