Vehicles Rental Industry Is booming With Technological Advancements Omar Al Ashi, CEO of Urent, is now preparing his company to enter into different regions next year
By John Stanly •
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With the evolving technology and innovative ideas, it has been made easy for emerging startups to enter the market and establish their identity in the respective domain that they cater to. Gone are the days when P2P car-sharing services were available only in a few countries. Now more and more people are being aware of the influential concept and working meticulously to mark their footprints in the prominent platform. 'Urent' is one such exceptional multi-category vehicles rental company from Dubai that is making its way to the top with its advanced methodologies and extraordinary services.
The company "Urent' was founded by the phenomenal leader "Omar Al Ashi' in Dubai, UAE in February 2019. Urent is a P2P vehicle-sharing platform that allows users to list their vehicles for rent, setting their prices, availability, rules, and limits. The platform has expanded its services to more than 10,000 people and is putting in industrious efforts to grab the topmost position in the vehicles rental industry.
After launching the organization in the UAE in February of 2021, Urent was dubbed by the Arabian Business Magazine as "the Airbnb of Mobility". Urent is an end-to-end mobility platform that offers its users almost anything that moves on the ground and water. From cars, chauffeur-driven limos, motorbikes, yachts to jet skis, customers have a plethora of options to choose from.
Urent enables owners to set their own rules, limits, pricing, and availability of their fleets. Renters enjoy navigating through a wide range of vehicles and watercraft tied to hosts, with the option of interacting with the owners via the in-app chat. Everything is done via the app from booking, payment to arranging any extras that the renter may require. The app is currently available in four languages that include Arabic, English, Russian, and Mandarin and is working to add more languages to the platform which will allow the app to cater to a wider audience in the current markets while setting the stage to expand into new ones.
Talking about the company's journey, the founder Omar Al Ashi says, "Urent has achieved enormous growth and currently has over 5,000-plus completed bookings, 41,000 registered users, 3,500 cars, and over 120 yachts and watercraft in inventory. Moreover, the firm has generated roughly USD 650K in revenue for the first six months of operation, and further, we are on a mission to reach the pace of 7,000 cars, 150 yachts, and a total of USD 1M of revenue by the end of 2021".
The firm's technology can be used in P2P, B2C, B2B, and B2B2C concepts and can be customized to meet the specific needs of the partners worldwide, based on the country and client preferences and requirements. The firm's revenue is generated from the applied commission from each rental that it receives. After embarking on the successful journey of vehicles rental services. The founder is looking forward to launching a second revenue stream, which is licensing the technology to other mobility tech companies in the global market.
