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Rexalto

USA, California
Market: Transport, Artificial Intelligence
Stage of the project: Idea or something is already done

Date of last change: 26.11.2024
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Idea

An AI dynamic pricing engine for the vehicle rental companies - we help our customers make 5-20% additional revenue on their current assets, increasing utilization and yet customer satisfaction

Current Status

We currently have 20 paying + piloting customers, ranging from small companies with 30 cars (using our self-service dashboard) to large players present in 20+ countries and over 80,000 cars (via direct integration).

Problem or Opportunity

Car rental companies face revenue loss and inefficiencies due to static pricing models that can’t adapt to real-time demand, fleet availability, or market changes. Our AI-powered dynamic pricing engine leverages real-time data and machine learning to continuously optimize prices, balancing supply and demand. This boosts revenue, improves fleet utilization, and enhances customer satisfaction by offering fair, competitive pricing while automating the process to keep companies agile and ahead of competitors.

Solution (product or service)

Our AI-driven dynamic pricing engine addresses inefficiencies in static pricing for car rental companies. It leverages real-time data and machine learning to optimise prices based on demand, fleet availability, competitor activity, and market trends. This ensures maximised revenue, better fleet utilisation, and improved customer satisfaction with fair, competitive pricing. By automating pricing adjustments, our solution empowers companies to remain agile, profitable, and aligned with market dynamics, transforming pricing strategies.

Business model

The business model for our pricing engine for car rental companies follows a SaaS approach with tiered subscription plans based on fleet size. Small companies opt for a basic plan with essential pricing features and generic price reccomendation, while larger fleets subscribe to advanced analytics, real-time data integration, and optimization tools. Additionally we are testing a performance-based model, where we charge a percentage of the revenue increase driven by the AI's price adjustments, ensuring alignment with client success
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