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235 investors
First Tranche
Shares will be sold at a 15 % discount
$0 share value remaining
$25.5 Price/Share
Second Tranche
Shares will be sold at a 10 % discount
$27 Price/Share
Third Tranche
Shares will be sold at a 5 % discount
$28.5 Price/Share
Fourth Tranche
Shares will be sold at a 0 % discount
- share value remaining
$30 Price/Share
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https://www.arabianbusiness.com/startup/453743-why-uae-start-up-udrive-is-offering-investment-opportunities-via-crowdfunding
https://www.forbesmiddleeast.com/featured/forbesvideo/testing-udrive-car-sharing-app
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Udrive was the first operator in the region which gave it first mover advantage. Our team operates with efficient movement models, route analysis and customer behaviours to create profitable unit economics across our network.While alternatives methods of movement focus on scaling in-efficient fleets, we focus on maximum utilisation through great pricing and effective vehicle placement.We are careful in how we approach tech and fleet spending. With a razor-sharp focus on 10x cost reduction and 10x revenue strategies we strategically invest in technology that streamlines our customers access to vehicles.We are launching fleets that will support not just consumers but businesses. This includes B2B, SMEs and government entities working towards a more inclusive and digital employee experience Achieved triple digit growth since 2017.✓ Featured in Forbes as the leading self drive mobility platform✓ Received limited funding from external investors, making our cap table super clean✓ Went from 75,000 customers to 150,000 in 2019. And we have hardly spent any funds on advertising. Almost all organic and referral users.
The on-demand self-drive industry represents one of the largest mobility sectors in the world. This includes:- Rentals and leases of cars, scooters and commercial vehicles- Full ownership of cars through purchase and loansBusiness model Our technology enables us to fractionalise ownership of a vehicle down to the minute or 1 meter. This means we have unlimited capacity to launch entirely new revenue models around the usage of vehicles by time or distance. Not only that the market for generating an income from your personal assets like AirBNB is still yet to be expanded.Being able to digitise any vehicle opens us up the entire driveable population age. In the MENAT region that is equivalent to:-27 million drivers in the GCC-45 million drivers in TurkeyChange in user behaviourAlmost all forms of mobility are being radically changed in the form of technology and acquisition of that mobility. Previously they only way to own a vehicle was from buying or taking expensive multi-year lock-in contracts. Today users want on-demand, when they want and where they want. Udrive is entirely focused on ensuring that whatever your choice of ownership we are able to provide that solution buy making your choice fully digital and shareable. Whether you an individual with 1 vehicle or a corporate entity with hundreds. The principal of digital assets, unlimited sharing and enhanced user security we can ensure the asset is kept safe and generating high utilisation.
Working capital requirements of Udrive, including:+ Marketing: Hire a data driven CMO to automate messaging+ Tech Stack: Invest in streamlining our customer experience+ Technical: In house more development to fully OWN our IP+ Personnel: Recruit data specialists who understand customer behaviour+ Content: Enhance our customer experience content+ Business Development: Drive our B2B2C strategy for growthPlease note that part of the funds raised and reflected on the barometer have been raised prior to the start of the Udrive Crowdfunding Campaign on Eureeca as part of their Series A funding round.
We have 3 key areas of exit for our investors and partners:TRADE SALEAcquired by a larger mobility platform or market place looking to access the regional mobility marketIPOListing on regional or international markets. This is a longer-term play that would fit with the growth of the business across multiple countriesPRIVATE EQUITYEarly investor liquidity event upon large private equity buyout.
Public documents
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The Entrepreneurs listed on our Website are private companies. When considering investing in private companies, you must take into account the following risks: Your investment may lose value - The Entrepreneurs that you may invest in through our Website are private start-up, early-stage or small to medium sized companies that are looking to launch a product or service and may not have a proven track record. Your investments are illiquid – By definition, there is no public market for private companies and there may never be a market for the shares in the Entrepreneurs in which you decide to invest. Accordingly, you may not be able to sell these shares or realize any profit (even a return of capital) from any investment that you make. Private companies are not required to report on their financial status like public companies – While the Entrepreneurs that list on our Website will commit to us to regularly update shareholders regarding their performance through our Website, there is no guarantee that they will adhere to this commitment and we do not guarantee that we will take action against them if they fail to so adhere. Private companies are not subject to the same regulatory requirements as a public company - When a company goes public they are required to disclose specific information and adhere to strict regulations with regard to their actions, disclosure and corporate governance. The Entrepreneurs listed on our Website are not subject to the same requirements. Voting rights and other Pitch terms – You should read the terms of any Pitch carefully in order to understand what rights are being granted by the Entrepreneurs in which you choose to invest. In the majority of cases, the number of shares being offered by Entrepreneurs will not reach the threshold required to allow such shares to influence any decisions or corporate actions taken by the Entrepreneurs. Entrepreneurs may not offer any minority shareholder rights (such as tag along, drag along, veto rights or anti-dilution rights) and even if they do offer such rights, there is no guarantee that these rights are legally enforceable or that you will have any recourse against the Entrepreneur in the event that they fail to honor any of the rights granted. While Eureeca will make every effort to ensure that Entrepreneurs adhere to the Pitch terms following Closing of any Pitch, Eureeca will not be liable to you for any failure by the Entrepreneur to do so. Disclosure in the Pitch – A well prepared Pitch will describe the various risks and conflicts of interest relating to the Entrepreneur, the Pitch and the Entrepreneur’s operations and we will guide the Entrepreneurs to assist them in preparing full and fair disclosure of all risks in their Pitch. However, we have no ability to assess whether all such risks have been accurately described or disclosed and will not have any responsibility for any failure to do so. Before making any investment decisions, you should fully assess the risks attached to any investment and should query any matters where you feel inadequate risk disclosure has been made. Business Failure Rates – You may assess the actual and expected failure rates of businesses on the platform by clicking here. Complaints Process – If a client has any complaints or queries about the services provided by Eureeca or in relation to the Eureeca Platform, they should contact us on contactus@eureeca.com A complaint must include: (i) the Client’s name and surname (ii) the Client’s User ID (iii) the affected transaction number(s), if applicable (iv) the date and time that the issue arose, and (v) an accurate description of the issue. Upon receiving information about the complaint, Eureeca will write to the complainant to acknowledge that the complaint has been recorded and is receiving the firm’s attention within 48 hours of receipt of being notified of the complaint. Eureeca will nominate a person who is not directly involved in the matter to carry out an investigation (the complaint officer). Within 30 days of the complaint, Eureeca shall write to the complainant to explain the firm’s views on the matter and the action, if any, it proposes to take. Eureeca will record all relevant details of the complaint in the firm’s complaints register for internal record purposes. If the complaint cannot be resolved within 30 days, the complainant should be provided with a progress report which includes details as to why the complaint has not been resolved and when the complainant can expect a resolution. Keep in mind that the past performance of any investment is not necessarily indicative of future results. You should only commit money that you can afford to lose to any investment on our website. Private company investments are not for everyone and entail risks that are different from more traditional investments. You should obtain investment and tax advice from your advisers before deciding to invest. Eureeca does not provide any investment, legal or tax advice and will not have any liability for any legal, investment or tax issues in connection with any investment you decide to make.
The Entrepreneurs listed on our Website are private companies. When considering investing in private companies, you must take into account the following risks:
Your investment may lose value - The Entrepreneurs that you may invest in through our Website are private start-up, early-stage or small to medium sized companies that are looking to launch a product or service and may not have a proven track record.
Your investments are illiquid – By definition, there is no public market for private companies and there may never be a market for the shares in the Entrepreneurs in which you decide to invest. Accordingly, you may not be able to sell these shares or realize any profit (even a return of capital) from any investment that you make.
Private companies are not required to report on their financial status like public companies – While the Entrepreneurs that list on our Website will commit to us to regularly update shareholders regarding their performance through our Website, there is no guarantee that they will adhere to this commitment and we do not guarantee that we will take action against them if they fail to so adhere.
Private companies are not subject to the same regulatory requirements as a public company - When a company goes public they are required to disclose specific information and adhere to strict regulations with regard to their actions, disclosure and corporate governance. The Entrepreneurs listed on our Website are not subject to the same requirements.
Voting rights and other Pitch terms – You should read the terms of any Pitch carefully in order to understand what rights are being granted by the Entrepreneurs in which you choose to invest. In the majority of cases, the number of shares being offered by Entrepreneurs will not reach the threshold required to allow such shares to influence any decisions or corporate actions taken by the Entrepreneurs. Entrepreneurs may not offer any minority shareholder rights (such as tag along, drag along, veto rights or anti-dilution rights) and even if they do offer such rights, there is no guarantee that these rights are legally enforceable or that you will have any recourse against the Entrepreneur in the event that they fail to honor any of the rights granted. While Eureeca will make every effort to ensure that Entrepreneurs adhere to the Pitch terms following Closing of any Pitch, Eureeca will not be liable to you for any failure by the Entrepreneur to do so.
Disclosure in the Pitch – A well prepared Pitch will describe the various risks and conflicts of interest relating to the Entrepreneur, the Pitch and the Entrepreneur’s operations and we will guide the Entrepreneurs to assist them in preparing full and fair disclosure of all risks in their Pitch. However, we have no ability to assess whether all such risks have been accurately described or disclosed and will not have any responsibility for any failure to do so. Before making any investment decisions, you should fully assess the risks attached to any investment and should query any matters where you feel inadequate risk disclosure has been made.
Business Failure Rates – You may assess the actual and expected failure rates of businesses on the platform by clicking here.
Complaints Process – If a client has any complaints or queries about the services provided by Eureeca or in relation to the Eureeca Platform, they should contact us on contactus@eureeca.com
A complaint must include:
(i) the Client’s name and surname
(ii) the Client’s User ID
(iii) the affected transaction number(s), if applicable
(iv) the date and time that the issue arose, and
(v) an accurate description of the issue.
Upon receiving information about the complaint, Eureeca will write to the complainant to acknowledge that the complaint has been recorded and is receiving the firm’s attention within 48 hours of receipt of being notified of the complaint.
Eureeca will nominate a person who is not directly involved in the matter to carry out an investigation (the complaint officer).
Within 30 days of the complaint, Eureeca shall write to the complainant to explain the firm’s views on the matter and the action, if any, it proposes to take.
Eureeca will record all relevant details of the complaint in the firm’s complaints register for internal record purposes.
If the complaint cannot be resolved within 30 days, the complainant should be provided with a progress report which includes details as to why the complaint has not been resolved and when the complainant can expect a resolution.
Keep in mind that the past performance of any investment is not necessarily indicative of future results. You should only commit money that you can afford to lose to any investment on our website. Private company investments are not for everyone and entail risks that are different from more traditional investments. You should obtain investment and tax advice from your advisers before deciding to invest. Eureeca does not provide any investment, legal or tax advice and will not have any liability for any legal, investment or tax issues in connection with any investment you decide to make.
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