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SEARCHThe Indian car rental company plans on expanding into new markets with its newly-acquired funds.
Photo credit: Ali Naqi
Revv, a startup car rental company from India, recently raised $9 million in equity and debt financing.
According to The Economic Times, the company plans to use the funding to expand its services into new markets, create new products, and monitor driver behavior, among other improvements.
“The number of people giving up traditional asset ownership is set to grow exponentially. The rise of taxi-hailing apps has been an important market-creator, weaning people away from traditional car ownership. The key would be to address the highly varied needs of a shared-mobility user, through a suite of products tailored for each need,” said Anupam Agarwal, co-founder of Revv.
Founded in 2015, Revv currently operates in four cities across India – Delhi NCR, Bengaluru, Hyderabad and Chandigarh.
To read the complete article, visit The Economic Times.
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