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The UAE-based Tech startup and personal chauffeur booking platform Zofeur has successfully raised $500K in its latest funding round. The Seed round was led by a network of customers turned angel investors in a big statement on market validation for the UAE-based team.
Founded in July 2020, by two entrepreneurial friends, Bunty Monani and Ishrath Hasmin, who bootstrapped the company while working full-time jobs, Zofeur offers the region’s on-demand pay-per-minute chauffeur services platform. With no minimum usage commitment with flexible and tailored booking periods, users can instantly hire personal chauffeurs through their mobile app.
Driven by a 120% YoY growth in Funding MENA’s Transport & Logistics (T&L) industry ranked second in MENAPT after Turkish startup Getir raised near $1Bn in funds earlier this year. The UAE ranked second in volume of capital backing T&L startup by Q3 2021, and third by number of deals as recorded in our Q3 2021 EVM Transport & Logistics Venture Investment Report. The UAE’s 163% YoY funding growth in Q3 2021, was a result of major deals closed in 2021 by the likes of Lyve Global, Udrive, Fenix, and Carasti LLC.
Zofeur now has over 50,000 users in Dubai alone benefitting from its unique pay-per-minute payment model. The app has undergone a revamp in November 2021 as a result of onboarding customer feedback to offer the best user experience. Bunty Monani, Founder, and CEO of Zofeur highlighted “Safe driver is a very old school term, but Zofeur is much more than that. We are a lifestyle service for anyone who does not want to compromise time, money, and comfort. Along with safe driver services, you can now hire chauffeurs to drop and pick up cars from service, send your car for annual vehicle inspection, take you for a meeting, and many more use cases. All under one mobile app.”
Zofeur which is now on google play and Apple store will channel its newly acquired funds to fuel its international expansion in Q2 of 2022, starting with Saudi Arabia and Bahrain. Co-founder and COO Ishrath Hasmin concluded “we visualize a world where everyone can have a personal chauffeur with one tap on your mobile. During our first year of business, we really focused on creating the best product for our customers, and now we have revamped the application. As a result, a large portion of our investment came from existing users and customers. We believe there is huge potential for Zofeur across the region and internationally. Our aim is to make chauffeur services, luxury service today, a daily necessity.”
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