Amongst rise and fall of start-ups, if anything is making money today, it’s the scooter-rental services that are not only generating profit in the market but also solving the problem of urban commute turning it into cost-effective and hassle-free experience.
However, such start-ups have been performing well only because investors like Murugappa Group and Singapore-based B Capital Group, also New York-based hedge fund Falcon Edge Capital have decided to lend a hand by funding them, expanding their businesses and helping them build an automated technology platform.
On a daily basis, Vogo and Bounce nearly claim to cover 60,000 rides a day, therefore propelling
common people to avail such means of transport by spreading their tentacles in and across the growing rental industry.
Further, such ventures have proved to reduce the cost of a one-way travel to 50 percent of the price of autos and cabs.
Within a short span, Bounce has managed to raise $72 million, thus manifesting its worth and promising to capture several other cities affirming its stake in the years to approach ahead.
Within a short span, Bounce has managed to raise $72 million, thus manifesting its worth and promising to capture several other cities affirming its stake in the years to approach ahead
On the other hand, Vogo has secured far lesser equity of $15 million but has received a $100 million bond from Ola, who will fund them in the process of purchasing scooters.
In sum, both the start-ups are competitive and unabated in nature, as they reflect a continuation in their marketing trend by boosting sales as well as smartly reaching out to investors who are ready to bear the cost and expenses.