Caravan

https://magnitt.com/startups/undefined/caravan-0

0 Followers
0 Followers

Company Information

Caravan is a value-added aggregator of privately operated buses in the U.A.E with the mission of helping employees find the best private bus for their work commute.

Date Founded 01/2018

Industry Transport

Founders 1

Team Members 1 - 10

Business type N/A

Development Stage SEED

Revenue generating Yes

Linked Institutions N/A

Funding Information

Currently fundraising ? Yes

Fundraising Amount: 251 - 500

Previous fundraising:

Previous amount raised: 0

Funding Rounds (0) - 0

What problem are you solving or value are you creating?

The private transport industry in UAE is broken. Location-based private transporters are offline, have no standards or processes in place and the quality of service is consequently quite poor. On the flip side, passengers are looking for an affordable, convenient, and timely commute option but don't know who to trust and how to find the best bus for their commute. We are building out a platform that is aggregating, digitizing and standardizing the private bus operators in U.A.E with the mission of making it really easy for passengers to find and use a private bus for their work commute.

What's your market opportunity and how will you acquire customers?

We are targetting the working population in UAE who are commuting a distance of greater than 15 km each way for their work commute. By our estimates that is roughly 1.5 million of the total population of UAE. Currently, we are acquiring customers by posting on Dubizzle (local classifieds), Google Ads & Referrals. We want to use referrals as a strong acquisition strategy once we have enough of a network built up.

Who are your competitors and what makes you different?

Our indirect competitors include personal car usage, public transport, and in some rare cases ride-hailing options such as Careem/Uber. We don't have any direct competitors in the bus aggregation or transportation space here in UAE. Regionally, our competitors include Swvl, Buseet, Careem Bus from Egypt and Volt Lines from Turkey. Outside the region, there is Airlift in Pakistan & Shuttl in India. All major players in the transportation space are doing well as indicated by the funding amounts being raised along with the marketed growth rate.

How will you monetize?

We currently operate on a commission model. We partner up with bus operators who are already operational. We bring passengers to them and charge the operators a fee of 10% each month from the monthly fee for as long as the passenger is active. We are also going to lease buses from passenger transport companies, paying them a fixed fee per month and run the buses on routes where we see demand being built up (where other bus operators are not present).

What are your top three challenges?

1. Building out a strong and formidable tech team. 2. Nailing the best acquisition channel for us. 3. Creating a simple, smooth and scalable process to standardize the quality of service across ALL our bus operators.

GEOGRAPHICAL LOCATION

Incorporated: United Arab Emirates (UAE)

Branches: United Arab Emirates (UAE)

Geographical focus: United Arab Emirates (UAE)