Arcab raises undisclosed Seed Round from We Founder Circle
New Delhi, December 3: We Founder Circle a founder backing founder based early-stage start-up investor participated in the Seed round raised by arcab, a technology-enabled bus aggregator. The Dubai-based start-up Arcab allows fleet owners to make more money by increasing the utilization of their vehicles. The company works with more than 40 Operators including Europcar, Avis and Dubai Taxi corporations with over 3k buses in their supply pool. The undisclosed round witnessed participation from other esteemed investors including –UpSparks VC, Charles & Zaim Azrak & other strategic angel investors.
The brand plans to utilise the funds to build, maintain and scale the technology infrastructure that facilitates the multi-sided marketplace. The start-up will also focus on activities related to scaling operations, building the brand and creating a sales and marketing engine to fuel the expansion in the region.
“arcab has come up with a unique business model, executing a fine technology infrastructure. They have identified some really good markets for expansion that hold great potential. Their business model will not just offer services to organisations and users, but also empower owners with fleets to get the ball rolling again. WFC is glad to be supporting the start-up and can see its growth trajectory already,” said Mr. Neeraj Tyagi, Co-founder & CEO, We Found Circle.
“We are humbled by all the support we have received from our investors and partners. The next 18 months are going to be very exciting and crucial for us to move quickly, ramp up our operations and scale our footprint in the region,” said Mr. Bilal Shabandri, Co-founder & CEO, arcab.
The brand’s USP lies in its tech enablement which allows a fleet operator to reduce downtime, avoid manual control, optimise fleet, and increase profits.
Established in 2020 in Mumbai, We Founder Circle is a global community of successful founders & strategic angels that have come together to push the start-up industry and steer it towards aggressive growth. It invests USD 50K- USD 150 K amount in early-stage start-ups that are fueled with ambition, sustainability, and strategic approach. WFC provides seed funding, business development, and global networking opportunities to start-ups as it believes early-stage startups need a lot beyond just financial support to become scalable and stable.
arcab is a technology-enabled bus aggregator that empowers fleet owners to make more money by increasing the utilization of their vehicles. They are tackling the 250B$ MENA market for moving people and things starting with the UAE. The company works with 40+ Operators including Europcar, Avis and Dubai Taxi corporation with over 3k buses in their supply pool.