UAE’s Tech startup for car rental Udrive, providing a pay-per-minute car rental service for UAE residents and tourists, has secured $5M from Cultiv8 and Oman Holding International.
Udrive started in January 2017 offering drivers in Dubai, Sharjah, and Abu Dhabi a cost-effective pay-per-minute car rental. Drivers can book a car for their journey via the Udrive app or the website, from any location they choose, and then simply drive off.
Being the first tech platform in the GCC to offer such services, Udrive recorded strong growth in 2021. Collecting two million trips to date, Udrive became one of the largest rental booking platforms by transactions per car in the region.
Udrive addresses the short-term on-demand rentals by adding additional services including free fuel, parking, and comprehensive insurance for all its customers. Its cars can be driven per minute or per day, depending on the customers’ needs.
The investment will be used for the upcoming Udrive expansion in the region and enhancements of its technology. In addition, Udrive will focus on streamlining the customer experience including the automatic parking payment system. The system lets the car determine where it is parked and automatically pays the relevant meter charges.
Udrive’s mobile app booking process is simple, fast, and efficient. The app functions as an all-purpose digital hub for private transport, payments, customer service, and logistics. Udrive has enormously reduced the time it takes compared to traditional car rental companies.
Udrive CEO and co-founder Nicholas Watson highlighted “We want to provide this service to everyone who can drive, and the reality is customer demand is shifting fast from buying & owning to on-demand and subscription.”
