Car and bike pooling application Quick Ride on Thursday announced it has registered over two million users on its platform and has facilitated 21 million carpool trips since launch in 2015.
The Bengaluru-headquartered startup entered the market in 2015 and is currently operating in nine cities, including Bengaluru, Chennai, Hyderabad, Pune, Mumbai, Delhi-NCR, Kolkata, Kochi, and Thiruvanthapuram.
Out of 20 lakh users, around four lakh are car owners and around 3.5 lakh are bike owners and around 80 percent of the users are from the IT industry, Quick Ride Co-founder and CEO KNM Rao told reporters.
"On an average, we are doing around 90,000 carpool rides every day and out of it bike-pooling is around 8,000. Bengaluru tops the list with over 52,000 carpools every day," he said.
Since its launch in Hyderabad in 2017, Quick Ride has registered more than three lakh users in the city, he said.
"We have covered nine cities and now we want to go more deeper by further increasing the carpools every day (in the existing cities where it is operational) rather than (expanding in) more number of cities," Rao said.
Users can buy the points from Quick Ride, he added.
A car owner (carpool giver) is rewarded by point system for offering carpool which can be used for either taking carpooling rides or can be redeemed for fuel, he explained.
"Quick Ride has registered two million users today and we have successfully prevented 46,000 tons of carbon emission across cities. Our goal is to reduce one million cars from the roads every day, and prevent at least 3,000 tons of carbon emission every day by 2020," he added.
The company which charges six percent commission on the points exchanged/paid by the users towards carpooling for using its technology/platform is generating monthly revenue of around Rs 70 lakh-Rs 75 lakh and is growing around 25 percent month-on-month, he said.
Asked if the company plans to raise fresh funding, Rao said it has raised $15 million in February this year and right now it was sufficient.
(Edited by Evelyn Ratnakumar)
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