Myles Angels' program, an initiative of Mylescars receives 2,700 applications

Mylescars, a robust and cost-effective car sharing and self-driving solution, today announced the successful start to its flagship program the Myles Angels program.

The entrepreneur incubation initiative saw interest from 2,700 micro-investors to invest cars on the platform. Under the Myles Angels program, Mylescars will roll-out 5000 cars on the platform over the next twelve month.

By registering onto the program, anyone can become a Myles Angel and get a plethora of benefits in return. An aspiring entrepreneur can purchase a car through Mylescars purchase solutions. Once the car is registered on the platform and the company inducts it into the fleet, the entrepreneur can earn up to 50 percent returns on their investment along with a fixed income. A hatchback can fetch up to Rs. 40,000 per month.

The Mylescars' self-drive platform has seen increasing utilization, delivering an increase of 65 percent to 70 percent on individual cars, thus underlining the high income potential for entrepreneurs.

Once a customer owns a car, all he needs to do is to lease it to Mylescars' car sharing network. Thereon, Mylescars takes care of everything, including EMIs, insurance and maintenance. People with entrepreneurial spirit can register themselves as angels, take a loan or self-fund a car, lease their car on the Mylescars platform and start earning from it. Mylescars guarantees complete hassle free operations all through the process.

"Our vision is to create an ecosystem of entrepreneurs who partner and invest with us in our endeavors to see Indian cities adopt Car Sharing for a better, smarter and environment-friendly way of car ownership. Myles Angels program adds a new dimension to our commitment to the development of smart cities in the country," said founder and CEO Mylescars, Sakshi Vij.

"The initiative has received an encouraging response from young professionals, aspiring entrepreneurs, mobility enthusiasts and small fleet owners. Once an aspiring entrepreneur registers on the platform as an Angel, we will not only help him/her buy the car they desire, but also help them earn money from it. The program ensures that one can still own a car without bothering about the hassles of owning one," she added.

Mylescars team has built a well thought out list of car models, financing solutions, insurance products, car maintenance arrangement as also the best in class technology integration.