After multiple pivots, the vehicle-sharing marketplace is looking at an asset-light, franchise model to drive growth. Will the gambit pay off?
IT executive Guruprasad R does not mince words when he says he’s been duped.
In early 2019, enticed by an offer on vehicle-sharing marketplace Drivezy, he bought five two-wheelers and put them up on the platform.
On paper, it seemed like he was getting a great deal. The tripartite agreement between him, Drivezy and a finance partner promised a minimum guaranteed payment each month that covered his vehicle EMIs. While the vehicles were registered under Drivezy’s name, once the loan tenure of 36 months got over, he had the option of extending the partnership, selling the vehicles or taking them …
Nikhil used to a writer at The Morning Context. He is a graduate of the Asian College of Journalism, and has worked with several publications including the Deccan Herald, The Hindu and The Indian Express. He has reported on a wide range of topics, from technology to automotives to books.
nikhil@mailtmc.com