{"id":553874,"date":"2021-12-12T04:00:59","date_gmt":"2021-12-12T04:00:59","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/12\/zoomcar-to-invest-usd-50-mn-in-three-years\/"},"modified":"2021-12-12T04:00:59","modified_gmt":"2021-12-12T04:00:59","slug":"zoomcar-to-invest-usd-50-mn-in-three-years","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/12\/zoomcar-to-invest-usd-50-mn-in-three-years\/","title":{"rendered":"Zoomcar to invest USD 50 mn in three years"},"content":{"rendered":"

Car rental company <\/strong>Zoomcar<\/a><\/strong> is looking to double its investments in Egypt to USD 50 mn in the c<\/strong>oming three years<\/strong>, VP and Egypt head Hany Olama told Al Borsa<\/a>. The India-based firm initially said it would spend USD 25 mn over a three-year period when it launched in Cairo in October<\/a>.<\/p>\n

Ambitious plans:<\/strong> The car rental startup wants to significantly ramp up its customer base by the end of 2022, reaching 100k from 3.5k currently. It is planning to expand its services to Alexandria in May, before rolling out in South Sinai, the Red Sea, Dakahlia and Gharbia by the end of 2022, Olama said.<\/p>\n

What\u2019s Zoomcar? <\/strong>Launched in 2013, Zoomcar operates in India, the Philippines, Vietnam, Indonesia and now Egypt. The app provides authorization and ins. for car owners to rent out their vehicles, calculates the cost of rental according to duration and distance of the trip as well as the model and condition of the rental car, and processes payments electronically.<\/p>\n","protected":false},"excerpt":{"rendered":"

Car rental company Zoomcar is looking to double its investments in Egypt to USD 50 mn in the coming three years, VP and Egypt head Hany Olama told Al Borsa. The India-based firm initially said it would spend USD 25 mn over a three-year period when it launched in Cairo in October. Ambitious plans: The […]<\/p>\n","protected":false},"author":1,"featured_media":553875,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[72,103,125,123,207,580],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-553874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseam","tag-fdi","tag-investment-watch","tag-startups","tag-transport","tag-zoomcar","wpautop","entry"],"acf":{"mongo_id":"5f006017-5575-4435-85ad-49e387c821cb","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/12\/297.jpg","photo_position":"above","related_issue":[553855],"teaser":"","voice_url":""},"yoast_head":"\nZoomcar to invest USD 50 mn in three years - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/12\/zoomcar-to-invest-usd-50-mn-in-three-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zoomcar to invest USD 50 mn in three years\" \/>\n<meta property=\"og:description\" content=\"Car rental company Zoomcar is looking to double its investments in Egypt to USD 50 mn in the coming three years, VP and Egypt head Hany Olama told Al Borsa. 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