Udrive
Financials
Estimates*
USD | 2021 | 2023 |
---|---|---|
Revenues | 2.6m | 12.0m |
Date | Investors | Amount | Round |
---|---|---|---|
- | N/A | - | |
N/A | N/A | Seed | |
N/A | $1.0m | Series A | |
N/A | $5.0m | Series B | |
$1.3m Valuation: $25.0m | Late VC | ||
N/A | $5.0m Valuation: $25.0m | Late VC | |
* | $5.0m Valuation: $25.0m | Late VC | |
Total Funding | $17.3m |
Recent News about Udrive
EditUdrive is a self-service car rental platform operating in the United Arab Emirates, specifically in cities like Dubai, Abu Dhabi, Sharjah, and Ajman. The company provides a convenient and flexible car rental service where users can rent vehicles on a pay-per-minute basis. This model caters to both residents and tourists who need short-term transportation solutions without the long-term commitment of traditional car rentals.
Udrive's business model revolves around a mobile app that allows users to locate, reserve, and unlock cars directly from their smartphones. The service includes fuel, insurance, and parking, making it an all-inclusive option for urban mobility. The company generates revenue through its per-minute rental fees, as well as additional charges for penalties, fees, and fines related to misuse or damage of the vehicles.
The target market includes tech-savvy individuals, tourists, and residents who require flexible and affordable transportation options. Udrive's competitive edge lies in its user-friendly app, transparent pricing, and the convenience of not having to worry about fuel or parking costs.
Keywords: self-service, car rental, pay-per-minute, UAE, mobile app, urban mobility, flexible transportation, all-inclusive, tech-savvy, short-term rental.