Arabnet - The Quarterly - - Entrepreneurship -

Founded by Ab­delrah­man El­ga­mal, Friendy­car is the first mar­ket­place for bor­row­ing and lend­ing cars in the Mid­dle East, and is fo­cused on fa­cil­i­tat­ing the process of car shar­ing, de­creas­ing the pop­u­la­tion of cars and pro­vid­ing any­one who doesn’t own a car with a con­ve­nient af­ford­able so­lu­tion. Friendy­car aims to switch the car owner sta­tus from some­one who pays main­te­nance, in­sur­ance, and park­ing fees to some­one who gets to share their car, make more money, and sup­port their com­mu­nity and the en­vi­ron­ment, all while their car is com­pletely cov­ered by Friendy­car’s in­sur­ance part­ner. Friendy­car aim to shift the car own­er­ship model from its cur­rent sta­tus to a ‘timeac­cess’ model, al­low­ing peo­ple to ac­cess any car any­time and any­where in the world. Through the Friendy­car web­site, car own­ers can list their car for bor­row­ing by fill­ing in their car’s de­tails and set­ting a daily price as well as any weekly or monthly discounts. Af­ter list­ing the car, the car owner can then con­trol who gets to bor­row the car, and check bor­row­ers’ pro­files, re­views and rat­ings be­fore ac­cept­ing or deny­ing a re­quest. More­over, all car bor­row­ers are screened and must get their ac­counts ver­i­fied be­fore they can re­quest to bor­row a car. One of the main ad­van­tages of Friendy­car over car rental ser­vices is the fee, which is 30-40% cheaper. Ear­lier this year, Friendy­car came in sec­ond place at the Arab­net Startup Bat­tle in Dubai and also claimed the first place prize at the Dubai Smart­preneur Com­pe­ti­tion in May. Although the startup is cur­rently based in Dubai and tar­get­ing the Mid­dle East re­gion, it plans to ex­pand to Eastern Europe and South­east Asia as a next step. Although Friendy­car has no di­rect com­peti­tors in the re­gion, in­ter­na­tional play­ers with sim­i­lar mod­els do ex­ist.

Coun­try: UAE Launched: 2016 Cat­e­gory: Au­to­mo­tive

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