In the past couple of years, the Car rental segment in Dubai has managed to gain steady growth mainly due to a shifting trend from car ownership to renting cars, especially among the millennial population. Driven by an innate need to explore their surroundings, the next generation of UAE consumers have begun to look for alternate means of transport that can fulfil their travel goals without burning a hole in their pockets.
In recent years, car rental services start-ups have mushroomed to cater this problem. These start-ups are not only appreciated by masses, but they are also receiving huge amount of backing from the investors.
Recently, Dubai-based P2P car sharing platform ‘Urent’ has been among those few companies who had helped out travellers in the country even during uncertain times.
With Urent, it is our technology that brings in new renters and hosts in line. There are a number of car rental services coming up in Dubai, but most of them focus only on services rather than an AI driven model,” said Omar Al Ashi, CEO, Urent.
Through its web and mobile-based service network, company links and facilitates transactions between hosts and renters. Unlike existing market players, Urent is not the proprietor of the vehicles it rents. The company also leases vehicles from individual vendors by providing them a minimum guarantee value.
Since commencing operations in April 2019, till this date, Urent has garnered a customer-base of over 44,000 registered users, with over 4,000+ completed trips and 130% growth Month-over-Month.
Urent has ambitious plans of expanding to other regions by the end of 2022 with a fleet of more than 5,000+ multi-category vehicles.
"Following these targets will definitely prepare Urent for a brighter future," says Omar Al Ashi.