Uber partners up with Egypt’s peer-to-peer car sharing platform Dryve, aiming to revolutionize the …

Head of Uber Egypt, Ahmad Hammouda, comments on the partnership saying that it represents their mutual commitment to innovate to ensure drivers …

Egypt’s peer-to-peer car sharing platform Dryve, announces it partnership with Uber Egypt, allowing access to their vehicles for people who wish to be Uber drivers. This comes as part of Uber’s ongoing efforts to support drivers and enable Egyptians to better access the economic benefits of flexible work.

Head of Uber Egypt, Ahmad Hammouda, comments on the partnership saying that it represents their mutual commitment to innovate to ensure drivers and vehicle owners are supported and empowered by technology, and can supplement their incomes seamlessly with part-time work. “Our statistics show that the Egyptian market needs more flexible work opportunities with the fewest possible barriers to entry, as part-timers currently contribute to 70 percent of active drivers base. Connecting drivers to vehicles for short term rentals is a further step towards our goal to make the economic empowerment provided by the ride-sharing industry more accessible,” he adds.

With the aim to revolutionize the rental car market in Egypt, Dryve allows car owners to rent out their unused vehicles. This contributes to Uber’s goal of complementing the existing transportation network in Egypt as they aim to further congestion in cities, especially with the overabundance of unused parked cars clogging the streets.

Gamal Aboul Enein, CEO and Co-Founder of Dryve, elaborates on the partnership saying: “This mutually beneficial partnership enables Dryve to tap into Uber’s massive pool of demand, while in turn providing an innovative solution to address the challenge of drivers’ accessing vehicles by unlocking a vast and uncharted market.”

In addition, Dryve has also partnered up with insurance company, AXA and have introduced the first of its kind insurance policy – PAYD (Pay as You Drive). PAYD is the first fully digitalized claims process, which gurantees the insurance of all the listed vehicles during Dryve rentals.

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Zoomcar Founder David Back On The Indian Startup Ecosystem And The Lessons He Learnt Along …

Being mentored and invested by the likes of Mahindra & Mahindra, Sequoia Capital, Nokia Growth Partners, FundersClub, and Former Infosys CFO …

Sometimes to see the big picture one needs to be standing far enough from the problem.

For David Back, attending an annual MIT event in 2011 was the source of such an aha! moment. During the event, Back and his friend Greg Moran realised that India had no company which offered “western style car rentals with no chauffeur” – a business which is so common in the US that no investor would have given it a second thought, let alone invest in it.

Back and Moran’s startup Bengaluru-based startup, Zoomcar, now operates 9,000 cars in more than 45 Indian cities. Starting with just 7 cars in 2013, Zoomcar was the first startup in the country that offered self-drive car rental as a service. By the time Back left day-to-day management at the end of May 2015, it had grown to about 1,500 cars in six cities.

Being mentored and invested by the likes of Mahindra & Mahindra, Sequoia Capital, Nokia Growth Partners, FundersClub, and Former Infosys CFO Mohandas Pai, Back’s in-depth understanding on startups and venture capital in India is surprisingly deep and detailed.

Based on his learnings so far, Back recently released a paper with the title, “The case For VCs In India”, in association with The Indian Private Equity and Venture Capital Association. The paper showcases his research and learnings from several conversations with entrepreneurs, angel investors, venture capitalists, among others.

When Zoomcar was launched on Valentine’s Day on February 14, 2013, RBI had tightened capital control restrictions in response to the US Federal Reserve. Soon Indian startups found that raising capital became almost impossible; and many good ventures starved to death.

“During the time period (2013-2016), Zoomcar had a huge demand but like everyone else raising money to expand was almost impossible. Other Indian entrepreneurs I spoke with at that time told the same story,” Back writes.

The entrepreneurial ecosystem in India received its boost exactly when it needed the most. “When RedBus got acquired by Naspers and Tencent’s Indian subsidiary Ibibo for about $140 Mn which provided a much-needed jolt of confidence to the entire ecosystem,” he adds.

Here are some more interesting insights Inc42 gathered from the recently released paper by David back, highlighting what the VC ecosystem of today demands from the new age startups.

Want A VC To Invest In You? Get Some Experience And A Degree!

Back says that one of the fundamental shifts he observed in the Indian startup segment is that there is now a preference for older and more experienced entrepreneurs.

Another criteria which Back lists as a trend is that of investors, who are increasingly putting more weight on is for the founders to be from one of the top-tier schools, like IIT, IIIT, NIT, IIM, ISC, Harvard, Stanford, MIT, Oxford, and Cambridge

“With almost 100 pitches for each completed investment, VCs are now relying more on introductions from trusted sources. They are also putting more weight on easy selection filters,” said Back.

So for the impatient entrepreneurs who are thinking of dropping out because they cannot wait to setup their own startup: Stay in school!

The paper cites Amrit Dixit, a senior managing director and head of Private Equity at Blackstone, who was speaking at the 2019 Wharton India Economic Forum in Mumbai, and who said that the quality of the management team is the single biggest judgment call one has to make while deciding on an investment.”

BC: Getting VC funding in India is now far more competitive than getting into Harvard, and almost as competitive as a Rhodes Scholarship.

Problem With The Use Of The Word Unicorn

Back has an issue with the word Unicorn (also for other acronyms not discounting the word ‘soonicorn’ used to describe his own company) and feels that it distracts people from looking at other important aspects of a business. He primarily lists two reasons:

1) It priorities raising capital and achieving valuation above all other goals for a startup. The point of creating a new company is the satisfaction of creating something new and realising a vision, as well as providing a good return on equity to investors, and to make money for founders.

2) It is imprecise and has become clunky with additions like “soonicorn” and “decacorn”. A field dominated by engineers and computer-scientists calls for a more fine-tooled measurement based on binary systems.

Fed up of these acronyms and “with an urge to be immortalised”, Back comically suggested his UNREALITY Index of startup valuations that show another aspect to his creative talent and maybe an alternate satirist career.

“Based on this Index, Flipkart exited as a very-respectable “autobot” company; and India currently has one “elf”, three “rakshasas”, four “nazguls”, and nine “unicorns”.

In India Fortune Favours The Patient

Talking about what defining characteristic of the Indian growth story is, Back quotes his friend Bert Mueller, founder of California Burrito fast food chain in Bengaluru “Fortune favours the bold. India favors the patient.” I couldn’t agree more. Thomas Edison said that “genius is 1% inspiration and 99% perspiration.” In India, it must be 99.9%!”

But while investors need to be patient and place their bets for the long term, the paper urges urgent policy action on the biggest challenge to progress which is the environment. Air pollution clogging Indian cities and access to safe drinking water are critical issues that the nation faces and that it is hard to find a solution for these issues and “almost impossible” to see the political will to do enough about issues like water shortages before it is too late.

In conclusion, Back writes “There is an expression in parts of India, “You’ve got the clock, but we have the time.”

India is a tremendous investment opportunity for very, very patient capital. “Everything takes longer in India. Perhaps my most profound insight about India is that the concept of You Only Live Once largely does not apply. For most of the major religions in India, You Only Live Infinite Times,” Back said.

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App Targets Personal Assistants & Travel Planners for Rental Car Insurance Quotes!

Pablow Inc. (Pablow) is an innovative insurtech startup and a 2015 Global Insurance Accelerator graduate focused on improving access to and …
Targets Personal Assistants & Travel Planners for Rental Car Insurance

Get That Covered Feeling on the App Store

Bonzah.com Releases App For: PA’s & Travel Planners for Rental Car Insurance on the App Store

At the travel arrangers finger tips is the ability to simply select a team members name from the list and click buy!”

— Steve Sherlock

DES MOINES, IA, UNITED STATES, April 1, 2019 /EINPresswire.com/ — Des Moines, Iowa – March, 2019 – Pablow, Inc. (Pablow), an innovative Insurtech startup focused on improving access to and utilization of car rental insurance globally, is pleased to announce the immediate availability of Rental Car Damage Insurance app via the App Store.

Car ownership is declining! It’s estimated that new car purchases will decrease by 28% by 2028, in major US cities. Whereas car rentals and other on-demand transport options are estimated to account for 50% of all passenger miles by 2025 as opposed to owned vehicles, according to Bloomberg. Bonzah.com is gearing up to enable travel planners to take advantage.

“Personal assistants and travel planners alike can now add an unlimited number of travelers and payment methods to the account”, said Steve Sherlock, Co-Founder of Pablow Inc. d.b.a. Bonzah.com. “At the travel arrangers finger tips is the ability to simply select a team members name from the list and click buy! By purchasing the insurance sold on Bonzah, renters may not have to claim on their personal or corporate car insurance policy, pay an expensive deductible, nor risk potential premium hikes from their insurer.”

If consumers are interested in purchasing car rental damage insurance but want to avoid the high cost at the rental counter, they should visit Bonzah on the App Store.

For more information about this release, Pablow or Bonzah please visit the company website at www.Bonzah.com or contact Steve Sherlock, Co-Founder and CEO for Pablow, at admin@bonzah.com

About Pablow, Inc. (Pablow)

Pablow Inc. (Pablow) is an innovative insurtech startup and a 2015 Global Insurance Accelerator graduate focused on improving access to and utilization of short-duration insurance product in the vacation rental, car rental and travel insurance categories globally. As a licensed agent in all 50 US states and DC, Pablow works with leading insurance companies, including Allianz Global Assistance, IMG, AIG Travel Guard, and Arch Insurance. For more details please visit www.pablow.com

Stephen A Sherlock

Pablow Inc.

+1 650-471-4495

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Rhonda Explains Rental Car Insurance in 90 Seconds

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Ola Eyes Self Driving Car Rentals As Part Of Frantic Expansion Drive

With this foray into the self-drive segment, Ola will now be competing with some of the popular players such as Sequoia Capital India-backed Zoomcar …

Bengaluru-based cab hailing giant Ola is not showing signs of slowing down its furious expansion. Along with foraying into international markets, and research around electric vehicles, the company is now eyeing the self-drive rental market.

The company is planning to invest over $500 Mn (INR 3,448 Cr) to launch its own self drive rental service, ET reported. Inc42 sources close to the development have confirmed the same.

In response to Inc42’s query Ola confirmed the plans of launching the service. However, denied disclosing financials details about the same. “Basis market feedback, we are piloting our Ola Self-Drive offering in various formats like rentals, subscription and corporate leasing in select cities in the coming weeks. This space is currently underserved and there exists a tremendous opportunity to build a superior experience through an integrated mobility platform like Ola,” said Ola spokesperson.

Ola is planning to launch the service in seven cities by deploying over 10,000 vehicles including luxury sedans and SUVs under its ‘Ola Self-Drive’ Category in the coming weeks.

Self drive car rental services let users to rent a car from the company. With this users drive the car themselves and return it after a pre-decided period of time.

The scale proposed by the company will make Ola the largest self-drive player in the country, the sources said.

By launching this service, the cab aggregator is trying to offer subscription products for its users and leasing services for corporate executives through the Ola Corporate offering.

Why Ola Is Bullish About Self Driving Car Rental Space?

The foray into this segment may be the company’s broader strategy of expanding its offering beyond just cabs to include scooters and electric vehicles with a view towards ensuring sustainability and positive unit economics.

A report by Ken Research suggests that the Indian car rental market is expected to touch $12.5 Bn by 2019, growing at a CAGR of 35%. India has close to x startups in this space already.

With this foray into the self-drive segment, Ola will now be competing with some of the popular players such as Sequoia Capital India-backed Zoomcar and Y Combinator-backed Drivezy.

In response to Inc42’s query, Drivezy CEO, Ashwarya Singh said, “Ola has a massive customer base which definitely gives it a head start. It’s a positive for the industry as well as self-drive rentals is a relatively new industry in India and with Ola coming in, a good number of new customers will get acquainted with the concept. We believe that Ola’s arrival will definitely benefit a lot of players in the industry”.

Zoomcar refused to comment for the story.

In terms of funds, Bengaluru-based Drivezy has raised $39.45 Mn to date. Recently, it was reported that technology majors SoftBank and Amazon are in talks to lead a $100 Mn (INR 690 Cr) equity financing round in Drivezy. The vehicle sharing marketplace has been on the lookout for fresh funds to expand its fleet across the country and also foray into the foreign markets.

Renting cars to drive temporarily is an idea which is yet to gain prevalence in India. With the growing acceptance of the gig economy in all spheres of urban life, acceptance of self drive car rentals is perhaps not far away. Ola’s entry is a strong pointer to the untapped potential of the market.

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What to Do When in an Accident Driving for Uber or Lyft in TLC Rentals

What follows for those who rent a TLC car for Uber & Lyft is a few suggestions on how to deal with an accident when it happens. Knowing what to do …
Friendly TLC Rentals & Leasing - What to Do When in an Accident Driving for Uber or Lyft in TLC Rentals

Friendly TLC Rentals & Leasing – What to Do When in an Accident Driving for Uber or Lyft in TLC Rentals

A guideline for Uber and Lyft drivers in their own vehicles or driving TLC rentals when they get into an accident

Whether driving your own vehicle or using TLC car rental & TLC car leasing, the first thing you must understand is that accidents will happen even when you take every precaution”

— Friendly, www.FriendlyTLC.com

BROOKLYN, NY, UNITED STATES, March 5, 2019 /EINPresswire.com/ — There is no worse feeling on the road than being involved in an accident. Whether driving your own vehicle or using TLC car rental & TLC car leasing, the first thing you must understand is that accidents will happen even when you take every precaution.

What follows for those who rent a TLC car for Uber & Lyft is a few suggestions on how to deal with an accident when it happens. Knowing what to do next will help calm you down and focus on what is important when an accident strikes.

Stay Calm

You may feel calm in the aftermath of an accident and that is understandable, but as the driver responsible for yourself and your passengers, staying calm is a priority.

Check Everyone to Ensure They are Not Injured

Starting with your passengers, check them to ensure that they are okay. If there is any need for medical attention, call 9-1-1 right away. You will want to check yourself and anyone else involved in the accident as your first priority is to make sure that everyone is safe.

Call the Police or File an Accident Report

If there are injuries, calling the police is mandatory. However, if the accident only involves damage to the vehicles, then you will have to file a report with the authorities. Understand the rules and regulations of your local and state authorities, so you will know exactly what to do in case an accident occurs.

If the vehicles involved cannot move, then calling the police is a must. Otherwise, you should clear the road and move to the nearest place that is off the road and provides enough space to get out. Remember to never admit fault in an accident, even if it was clearly your fault. That determination is the job of the authorities, not you. So, do not admit to being responsible for the accident.

Take Photos

You’ll want to document the accident properly, so take photos of all vehicles involved including their license plates. Exchange information with the other drivers, including name, number, and insurance. Jot down what you remember about the accident and get statements from those who saw what happened.

Report What Happened to Uber or Lyft

Uber has an app that you can use to report an accident. Just follow the instructions and it will lead you to enter the information.

At this point, you will need to contact your insurance company or if you rent a TLC car for Uber & Lyft, the owners of the vehicle. Remember that TLC rentals may provide you with a new vehicle depending on the nature of the accident. For those who own their vehicle, paying the deductible on the insurance and getting it repaired quickly is a must. It helps if you have enough in your checking or savings account to pay for an accident if the insurance will not cover it.

Friendly, www.FriendlyTLC.com

Friendly TLC Rentals & Leasing

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