UAE’s First Pay-Per-Minute Car Rental Concept UDrive Is Reimagining The Country’s Mobility Landscape – Entrepreneur

UAE’s First Pay-Per-Minute Car Rental Concept UDrive Is Reimagining The Country’s Mobility Landscape – Entrepreneur

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As the UAE's first pay-per-minute car rental concept, Udrive is clearly one of the trailblazers on the mobility scene of the UAE (and the wider GCC region)- since its launch in 2016, it has powered over two million trips, secured over 380,000 registered users on its app, and, in July last year, made inroads into Saudi Arabia as well.

Investors have taken note of the startup too- Udrive, which is built on "a highly scalable" cloud and internet of things (IoT) stack, has raised nearly US$10 million in funds so far, with its backers including Dubai Cultiv8 (an initiative of the UAE's Mohammed Bin Rashid Fund for SMEs), as well as Oman Holding International, one of the region's experts in the car leasing market. "We are very near breakeven operations, achieving both positive unit economics, and positive operating gross profit, while working towards net profitability," says Nicholas