Car Rental Service Roamer raises seed funding, 30mins rides for Rs 300
Roamer has raised six-figure (USD) seed investment and is now offering 30 minutes car rental with driver in Rawalpindi & Islamabad. The round of seed funding include angel investors from London, Saudi Arabia, Dubai, and Pakistan.
Though ride-hailing applications now seem to be dime a dozen across major cities in Pakistan, Roamer brings in something fresh to the market. Allowing users to rent cars with drivers at fixed hourly rates with unlimited stops, zero fuel charges and no peak factor, Roamer looks at short-term vehicle rentals.
The founders plan to disrupt the inefficient and complex car rental industry in Pakistan with its app-based platform offering superior ease of transportation rentals to the end user. Roamer is currently operational in Islamabad and Rawalpindi, with an expansion plan for Lahore and Karachi, next.
Mohammad Hadi, CEO Roamer said
“We have recently raised a sizable investment from our network of angel investors and we plan to use this investment to accelerate growth in Rawalpindi & Islamabad as well as to expand to Lahore and Karachi in the next few months. We are also launching 30 minutes car rental to provide more value to our users who were previously limited to minimum one-hour bookings.”
Founded by Mohammad Hadi, formerly an investment banker who has held senior positions at leading firms in New York, London and Dubai, and Ali Moeen, who has built and managed exceptional technology companies in Pakistan, Roamer also offers fixed price packages for out of city travel to any destination in Pakistan.
Ali Moeen, CTO/COO, said,
“The transportation space and the startup environment at large is undergoing a transition where we are seeing that path to profitability is becoming a larger concern to investors. With the recent news of other startups closing operations in some territories to now create a path to profitability, I can proudly say that our business model was built around a defined profitability path and healthy unit economics right from the start. The times of irresponsible user acquisition are dead and Roamer is one of the new age startups leading the change.”
Thus far, Roamer has a user base of 60,000+ registered users and 1,250 vehicles on its platform. A majority of the supply is coming in from ride-hailing companies. However, moving forward, Roamer is starting to partner with small car rental businesses to add their cars and drivers to Roamer’s fleet.
In the near future, Roamer is looking to introduce self-drive rentals along with opportunities for expansion in the Middle East region.