Selfdrive, a UAE-based online car rental firm has launched a smart mobility app that allows users to rent a car on demand in a simple, safe, and feasible way.
The mobility app gives customers immediate access to the dealership fleet, allowing them to hire a car by the day, subscribe by the month, or lease a car for up to three years.
In the last six months, the company has served over 50,000 customers, with a 30 percent month-over-month (MoM) growth in its customer base. The app is designed on a proprietary tech foundation concept known as search–select–pay, which uses machine learning and artificial intelligence (AI) to match users’ profiles with the cars they wish to drive. In under three hours, users can choose from 65 different automobile models from about 15 car companies in 45 locations across the UAE.
“We bring together exclusive offers on the app starting from $13.3 per day and $271.9 per month. Moreover, with the launch of ‘Lease Pro’ in this app, users can now rent a brand new ‘Zero Km’ car under its 12–24–36 months subscription that would be exclusively registered on demand by the car dealer.”
As the Dubai Expo 2020 approaches, the Selfdrive app will be offering event-related services under its car subscription platform, which would oversee car models and deals for six months with no commitments and an early return penalty.
The car rental industry was worth $86 billion in 2020 and is expected to grow to $131 billion by 2026, with a compound annual growth rate (CAGR) of about 7 percent over the forecast period. Udrive, a Dubai-based start-up, reported earlier this year that it had closed a $5 million fundraising round led by three venture capitalists and regional businesses.
The funding will be used to improve the data analytics capabilities of the company’s platform, with a focus on improving user experiences. This includes giving clients more visibility into their trips, which leads to a better understanding of pricing models and lower fees.