Drivio raises $1 million in seed funding round
- ByStartupStory | December 22, 2022
Two-wheeler financing platform Drivio has raised $1 million in seed funding round led by Karini Ventures and Vansun Capital.
As per the reports, Saurabh Tripathi, CEO and Co-founder of Drivio, commented on the developments saying “Funding support from Karini Ventures and Vansun Capital will further strengthen our vision and help us to build a robust platform to reach out to the maximum number of potential two-wheeler buyers. We plan to utilize the funds to further enhance the product and expand the services across the country.”
In an Industry assessment, two-wheeler sales are expected to cross Rs 1.8 crore in FY23 and are set to reach over Rs 2.8 crore by FY27 with a compound annual growth rate of 12%, the company claimed. In these circumstances, the company asserted that it expects to clock over Rs 100 crore in two-wheeler loans in the next 12 months. As of now Drivio is in talks with several banks and financial organizations for their loan processing services platform and weighing down its options.
About Drivio:
Based in Gurugram, it was founded by Saurabh Tripathi and incorporated in April 2022. It is resolved to disrupt the existing two-wheeler finance market by offering a tech-based financing service to avail loans with a few clicks, it claims. The company’s vision to find a solution to the financing problems that two-wheeler buyers face in the country.
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