Savaari Car Rentals Secures INR 5 Crore Funding from InventusCapital Partners
Savaari Car Rentals Pvt Ltd, India’s largest online chauffeur driven car rental company has received its Series A funding of INR 5 crore from Inventus Capital Partners. This is a first for any online car rental organization in the country. Since its inception, Savaari has grown to a network of over 100 operators across 60 cities and has clocked an experience of over 7 lakh trip hours and 75 lakh trip kms. Savaari Car Rentals is targeted at corporate users, retail users and online travel agents. Clients of Savaari opt for day trips as well as multi-day, multi-city trips.Savaari has/will invest in these three areas:
- A robust integrated backend engine that allows easy bookings management, as well as giving automated billing for its customers.
- Further investment in technology solutions to deliver superior travel experiences to the customer.
- Savaari will also use the funds raised to hire top marketing talent, and grow its business across cities by establishing a robust sales network.
"We are excited to have access to Inventus and their entrepreneurial experience. We believe that their support and direction will help us innovate and establish ourselves as the leader in the online car rental space in the country. The funds will be utilized to expand our reach within the country and in building a valued, scalable & innovative business" said Gaurav Aggarwal, Founder & CEO of Savaari.
“In Savaari we found a passionate entrepreneur who had boot-strapped the business to make it a significant pan-India operation. Inventus believes the highly fragmented car rental market is ripe for aggregation, and Savaari is well poised to become the leading player in this space” said Samir Kumar, Managing Director, Inventus Advisory Services. “Inventus has used Savaari for over 50+ trips across multiple cities, and we’re very satisfied customers ourselves”, he added.
Samir Kumar and Parag Dhol from Inventus Advisory Services (India) will be joining the Board of Directors at Savaari.