Taxi Startup Seeking Loan in Male, Maldives
Taxi booking app for drivers and riders with video/ audio calling technology, seeking funding.
| Established | 0-1 year(s) |
| Employees | 2 - 5 |
| Legal Entity | Sole Proprietorship/Sole Trader |
| Reported Sales | Nil |
| Run Rate Sales | Nil |
| EBITDA Margin | Nil |
| Industries | Taxi + 1 more |
| Locations | Male |
| Local Time | 1:20 AM Indian / Maldives |
| Listed By | Business Owner / Director |
| Status | Moderately Active |
Seeking Loan
USD
33 thousand
for
10.5%
annual interest,
3
years
(Native Currency: MVR 500,000)
Reason: Seeking funding for acquiring approval from the Ministry of Travel, marketing the platform and expan...
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Collateral Available: USD 0
Includes physical assets worth
USD
19.6 thousand
Name, Phone, Email
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Business Name
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User Verification
Documents
Business Proposal
(5.8 MB)
Business Overview
- The taxi booking app leveraging cutting-edge technology to enhance user experience with both video and audio calling capabilities.
- Features a dual-application structure with separate interfaces for drivers and riders, promoting user convenience and engagement.
- Revenue model is subscription-based for taxi drivers, targeting an average fee of $600 per month, creating predictable income streams. No commission will be charged to the drivers.
- Currently offering services for free as a strategic marketing approach; transitioning to a monetization plan in 3 months.
- Unique position in the market with the only app boasting an integrated payment gateway for seamless transactions.
- Approval from the Economic Ministry underscores the app's credibility; awaiting final licensing from the Ministry of Travel.
- Future growth potential includes an expansion into local hotel bookings, broadening service offerings and market reach.
- Features a dual-application structure with separate interfaces for drivers and riders, promoting user convenience and engagement.
- Revenue model is subscription-based for taxi drivers, targeting an average fee of $600 per month, creating predictable income streams. No commission will be charged to the drivers.
- Currently offering services for free as a strategic marketing approach; transitioning to a monetization plan in 3 months.
- Unique position in the market with the only app boasting an integrated payment gateway for seamless transactions.
- Approval from the Economic Ministry underscores the app's credibility; awaiting final licensing from the Ministry of Travel.
- Future growth potential includes an expansion into local hotel bookings, broadening service offerings and market reach.
Products & Services Overview
The primary product is the taxi booking app for drivers and riders.For drivers: Offer seamless management of bookings and communication with riders.
For riders: Allows riders to book taxis and offers enhanced user experience through integrated video and audio calling features for better communication with drivers.
Assets Overview
Physical assets include office furniture, computers, laptops and servers.
Facilities Overview
Operating from a rented office in Orchid Magu, Male.Rent is MVR 15k/month.
Capitalization Overview
Sole proprietorship business.Have raised external funding of MVR 50k.
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