Two-wheeler rental startup Wheelify plans to expand its presence across India in the next two years, increasing total number of vehicles available for hire to about 5,000. Initially, the Delhi-based firm is looking to enhance presence in places with close proximity to tourist spots, besides towns with sizeable student population. The company currently offers its services in 10 locations including Delhi, Mumbai, Jaipur, Dehradun, Manali and Leh.
It has a fleet size of 1,300 two-wheelers ranging from engine capacity of 100 cc to 1,500 cc. "The main focus of expansion will initially be to have presence in places from where tourist spots are in close proximity," Wheelify co-founder and CEO Devanshu Khandelwal told PTI. Pune, Bengaluru and Hyderabad are on the radar of the company. Identifying students as key target customers, he said the strategy is to be present in all "student-centric cities" and tap them, especially when they plan their holidays. When asked about increasing fleet size, Khandelwal said it would touch around 5,000 in the next two years through tie ups with various regional offline bike rental service providers. The company is also looking to expand its footprints to the North East which holds a good potential with not many players in the segment. The concept of two-wheeler rental is slowly evolving there, Khandelwal said. When asked about funding means for the expansion, he said the company is not looking for any external investors at present. "Majority of our profit goes back to the business so, funds for expansion will not be a big problem. However, we keep looking for potential investors who can help take the business forward," he said. Till now, the company has operated without any external funding support, Khandelwal said.
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