Cairo-based peer-to-peer car-sharing platform dryve has been selected as one of 15 startups for the Plug n Play (PnP) 2019 Mobility Innovation Platform.
Silicon Valley-based Plug and Play brings together the best startups, the world’s largest corporations and venture capitals (VCs) to partner with, invest in and accelerate startups which has included tech industry icons such as Google, PayPal, and DropBox.
“We’re very excited to be selected as one of the final 15 Plug and Play startups,” said Gamal Aboul Enein, dryve’s CEO and Co-founder. “In addition to the tremendous opportunity for further investments to accelerate dryve’s growth, the selection recognises dryve’s unique value proposition and is a testament to the solid conceptual and operational framework we set up to address a tangible need, ultimately redefining the mobility outlook for the markets where we operate.”
Launched in late 2018, dryve is a hassle-free, simple car-sharing platform gearing up for major expansion. dryve catalyses solutions and opportunities for both parties involved in the transaction; car owners and ‘dryvers’.
Through the platform, car owners can choose to transform their ‘idle’ assets into revenue streams, and ‘dryvers’ can benefit from lower than current car rental rates with the added option of using a rental, just like Uber.
Through its strategic third-party partnerships, dryve covers all elements involved to guarantee owners and ‘dryvers’ a smooth experience. All payments are conducted instantly via cash through Fawry. dryve’s partnership with global insurance leader AXA guarantees that both parties are fully covered in case of accidents or force majeure, utilising a first for market ‘Pay As You Drive’ (PAYD) insurance policy, and the first-ever digital claims process in Egypt.
dryve’s strategic partnership with Uber also provides verified Uber Partners with vehicle solutions that enable them to start driving for Uber.
Aboul Enein went on to add, “Today, Egyptian startups are making a growing mark in the global venture capital and accelerator landscape. I’m very proud that dryve is one of a handful of homegrown startups rising through global ranks, we can’t wait to make an even bigger impact in Egypt and across the region in the months to come.”