Current Status | Concept / Business Plan |
---|---|
Amount Invested | 0 |
Funding Required | RM3,000,001 to RM4,000,000 |
Description | Roadaz is a peer-to-peer car-rental marketplace. It provides an online interface through which private car-owners and small, locally owned rental operators can rent out their vehicles, allowing them to set their own prices and availability dates, as well as selecting who they rent their cars out to. Roadaz takes a 25% service fee on all transactions from private car owners, and a discounted 15% from small operators via the app.
The concept of peer-to-peer car-rental derives from similar proven systems such as AirBNB, Turo.com (US) and Drivy.com (EU). |
Business Opportunity | The current online car rental market in Malaysia proves to have the following issues:
– Limited fleet of vehicles causing shortages during peak times, ie. weekends and holidays Roadaz aims to take a percentage of this market by providing the following: – Unlimited fleet, providing a wide range of vehicles across Malaysia and surrounding markets Market size: – Malaysian car rental market Est. yearly revenue: US$910 million Capitalising on Small Local Operators (5-50 vehicles) – Small operators make up 60% (US$546 million) of the Malaysian rental market By partnering with the smaller operators Roadaz can control a larger percentage of the market by offering the following: – Online booking system |
Revenue / Business Model | Roadaz works on a basic commission model:
– 25% on all private rentals Alternate income sources: |
Management Team | CEO- Tunku Khairil Ibrahim Successful entrepreneur within the hospitality sector with 10 years Managing Director experienceCTO – Milan Milosevic Over 10 years experience in Web Development/Design and e-commerce platforms with mobile integration Advisor – Erman Akinci |
Company Background | Founded in August 2016, Roadaz (part of the Fixya Solutions Group) is a small locally managed business that employs a team of 5, with partnerships within Malaysia and internationally with the following companies:
– Technoduce India (Application development & support) Traction: – 80% completed web app |
Funding Milestone | Asking Investment: MYR4 million investment in return for 25% equity
Capital Usage: Marketing & Customer Acquisition Initial 6 months strategy Next 12 months strategy Salaries & New Hires Capital Expenses Growth Strategy: Milestone 2 – July 2016 Milestone 3.1 – July 2017 Milestone 3.2 – July 2017 Milestone 4 – July 2018 Milestone 5 – July 2019 |
% Equity Allocation | 25% |
Company Name | Roadaz |
Website/Facebook | http://www.roadaz.com |
Business Address | 67 Jalan Telawi, Bangsar 59100 KL |
Contact Person | Milan Milosevic |
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