The impetus for Dubai-based start-up Invygo — a combination of the words “invigorate” and “go” — began with one question, says Chief Executive and Co-Founder Eslam Hussein: “How do we make it easier for consumers to actually get a car and keep the sense of ownership without the commitment and the financial burden?”
Invygo offers an alternative that has already gained traction in other markets, such as the US and UK: a subscription service that allows consumers to rent a specific car for a minimum of one month with delivery, maintenance, insurance, and roadside assistance included. Invygo subscribers also have the flexibility to pause, downgrade or upgrade as needed.
“Consumers value flexibility above all else. Car ownership is already declining in much of the world. Invygo is tapping into this trend by providing consumers with a better way to pick and choose which car they want and when they want it,” says Joel Ayala, Managing Partner at Class 5 Global, a lead investor in Invygo’s $1 million seed funding round, which closed in November.
Car subscription services in the US include start-ups such as FreshCar and Joule; corporate ventures like flexdrive; and manufacturer programmes such as Book by Cadillac, Porsche Passport, Care by Volvo and Canvas (backed by Ford). UK options include Cocoon, Drover, Flexed and, Wagonex.
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