UAE-based Selfdrive launches mobility app to redefine on-demand car rentals

Selfdrive launched a smart mobility app that provides customers with a simple, reliable, and convenient way to rent a car on demand. It also 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.

The company has served over 50k clients so far and has seen a 30 per cent MoM increase in its customer base in the last six months. The app is based on a proprietary tech foundation idea called search – select – pay which combines machine learning and artificial intelligence to match customers’ profiles with the cars they want to drive. The software allows users to choose from 65 different car models from 15 different car brands in 45 locations around the UAE in under three hours.

Speaking about the launch of its app, Soham Shah, CEO and co-founder of Selfdrive, said, “We bring together exclusive offers on the app starting from Dhs49 per day and Dhs999 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.”

The Selfdrive app will host Expo 2020 related services available 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 market accounted for $86bn in 2020 and is expected to reach $131bn by 2026, projecting a CAGR of about 7 per cent during the forecast period.

Earlier this year, Dubai based start-up Udrive, announced that it has closed a $5m funding round led by regional business leaders and three venture capitalists.

Read: Dubai based Udrive closes $5m funding round

The company intends to utilise the funding to further enhance the data analytics capabilities of its platform, with a focus on elevating customer experiences. This includes providing customers a greater degree of transparency into their trips and consequently a better understanding of pricing models and potentially lower fees.