Photo - Carasti
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Carasti

Car Subscription App launching in Dubai October 2020

United Kingdom
Market: Transport, Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 14.09.2019
Min investment
$  200.000
Total required
$ 750.000
Rating
equalizer 55 из 1000
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Idea

We digitialise the process of getting a car, lowering the barrier to entry for customers with a better value & more flexible offering, increasing utilisation and revenue for fleet owners and dealerships though our Car Subscription marketplace.

Current Status

We are in the final phases of testing our app and prepping for our launch on the 20th October.

Problem or Opportunity

We live in an era where people buy everything on their phones & on-demand.
When it comes to buying a car it takes on average 17.5 hours between, dealership visits, test drives, meetings with the bank, Insurance set up etc.
After all of this, you're locked into a long term loan and the proud owner of an asset with depreciates up to 60% in the first 3 years of ownership. It's no wonder car sales are down globally as the modern consumer does not see car ownership as the ultimate symbol of freedom anymore but rather as a depreciating burden.

Solution (product or service)

We allow you to subscribe to your next car with an app, no long term commitment, no deposits, all inclusive, all you have to do is add fuel and drive.
Our solution will become your mobility companion as we have access to inventory from many manufacturers and we will be by far the easiest and most flexible way to access a car with no long term commitments, deposits or paperwork. We also give our subscribers exclusive discounts on fuel, car wash, barbers, bars, restaurants, florists, meal plans etc. Our phase 2 solution will also incorporate a marketplace so you can make money from your subscribed car when you are not using it by putting it back on our network as well as carpooling, any money made will be credited to you and deducted from your next month subscription.

Competitors

Invygo

Advantages or differentiators

We have a larger selection of Cars and have built an offer ecosystem which is a big value add for our customers since they get a car and access to multiple offers.

Our long term vision, experienced team & relentless focus on customer experience will keep us ahead of the game!

Money will be spent on

We need to build on the engineering team as well as Marketing and admin staff, this will cost us $425k

$180k on Marketing

$145k held for cash flow

Team or Management

5,00
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
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Lead investor
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Incubation/Acceleration programs accomplishment
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