The Delhi-based on-demand self-drive car rental company plans to further venture into Bangalore in the next 2 weeks
Hyderabad, January 20, 2016: Revv, the Delhi-NCR based self-drive car Rental Company has launched its operations in Hyderabad with a fleet of 50 cars across models starting from hatchbacks to luxury sedans. Operating on a standard hub model, the Hyderabad office has a 10-member strong team managing the day to day operations to deliver the cars to the customers from anywhere in the city. As part of its geographical expansion in the Southern market, the company is planning to launch its operations in Bangalore in the next 2 weeks.
Revv was set up in July 2015 by Karan Jain and Anupam Agarwal, two ex-Associate Partners of McKinsey with a comprehensive background of a decade each, where they helped Fortune 500 clients on strategy and performance transformation. The company bets on a shift in consumer behavior towards renting instead of owning assets such as cars and has completely re-worked the prevalent self-drive rental model. One of their first-of-its-kind innovations is “pure-play doorstep delivery of cars”, even for hourly rentals. To make this viable, they equip their delivery executives with a foldable electric scooter that fits in the boot of every car, and becomes a cost-effective, quick and environment-friendly way of getting back to the parking hubs. Already serving customers in Delhi-NCR, the company has witnessed repeat usage and positive customer feedback on their innovations in the region.
Commenting on the Hyderabad launch, Karan Jain, Co-Founder & COO of Revv said, “Although it is too early to comment, we’ve seen phenomenal customer adoption and a terrific response from the city, since our launch. Our average fleet utility is more than 70%. Given this traction, we are continuously adding to our fleet. We see an enormous potential in the city and can easily envision it becoming a 250-300 car market for us, within the next one year. We are also in the process of our 3rd launch in a southern city within the next 2 weeks. Thereafter, we will be on a spree to add 1-2 cities every month to obviate the need for car ownership across the country gradually.”
Owning a car may have been a matter of pride and a status symbol for many Indians but today, it is pretty common to see self-drive car rentals being picked up by people for weekend leisure trips or for many intra-city work or leisure related applications. Through its aggressive expansion, Revv endeavors to popularize the notion of self-drive car rentals in India, and to make the market take-off through a product that mimics the privacy and convenience of one’s own car.
About Revv
Revv is a self-drive car rental company, which recently launched from Delhi-NCR. It is the global pioneer of 100% doorstep delivery and pickup of cars from customer’s location. It is also India’s first car rental company with an “unlimited kms” pricing plan.
Revv was set up in May 2015 by Anupam Agarwal and Karan Jain, two ex-Associate Partners from McKinsey. It is funded by Ananth Narayanan, the newly hired CEO of Myntra, the CEO of DEN Online, more than 10 Directors and Partners from McKinsey (including the heads of logistics and automotive practices), senior executive from an investment fund, and a German soccer professional.
Revv’s portfolio comprises primarily of SUVs and and ultra-luxury cars. It aspires to be the largest self-drive car rental company in India, with a presence in 6-8 major cities within 1 year and a fleet of 30,000+ cars in 4-5 years.
