Hotline: 1800 102 2007
Hotline: 1800 102 2007
Mar, 13 2019

Drivezy plans to raise $100 million funding

The company is further eyeing to ramp up the number of vehicles listed on its platform, taking the total to about 80,000 cars and bikes by March 2020.

Drivezy plans to raise $100 million funding

Drivezy, a Bengaluru-based self-drive peer-to-peer car and bike sharing company, is planning to raise about $100 million in equity funding and another $400 million in asset financing. The fundraise is aimed towards expanding international presence.

The company is further eyeing to ramp up the number of vehicles listed on its platform, taking the total to about 80,000 cars and bikes by March 2020. Drivezy has a presence in 10 Indian cities including Bengaluru, Delhi-NCR, Hubli and Manipal. 

Ashwarya Singh, CEO and co-founder, Drivezy, said, "We are looking at raising about $100 million in equity funding and another $400 million in asset financing. We have received strong investor interest and are in advanced stages of closing the round."

"We are present in 10 Indian cities and we will expand it to 21 cities by March 2020. Some of the target cities include Chandigarh, Amritsar, Ahmedabad, Kolkata and Jaipur. While car rentals will be the primary business given its ticket size, there is strong growth in bikes rental business as well that is driving volumes," Singh added. 

Drivezy had raised $20 million funding and secured an additional $100 million in an asset financing deal from Harbourfront Capital (an SPV), a subsidiary of Anypay Inc, in November 2018.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Healthcare Products
    Healthy Rabbit, a venture of Infinite E-Health Solutions LLP, is..
    Locations looking for expansion Uttarakhand
    Establishment year 2019
    Franchising Launch Date 2020
    Investment size Rs. 5lac - 10lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Dehradun Uttarakhand
  • Sports & Gaming
    About Us: We are a Family Entertainment Centre that caters to..
    Locations looking for expansion Delhi
    Establishment year 2016
    Franchising Launch Date 2020
    Investment size Rs. 50lac - 1 Cr.
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Healthcare & Medical Products
    The Genus Group is well established 40 year old group..
    Locations looking for expansion Haryana
    Establishment year 2020
    Franchising Launch Date 2020
    Investment size Rs. 2lac - 5lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
  • Department & Convenience Stores
    About Us: Lätt Liv is originated in Asia and has a..
    Locations looking for expansion Gujarat
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size Rs. 50lac - 1 Cr.
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Surat Gujarat
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities