Arcab Raises Undisclosed Amount In Seed Round The funds will be utilized to build, maintain and scale its technology infrastructure
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Arcab, a technology-enabled bus aggregator, has raised an undisclosed amount in its Seed round led by We Founder Circle.
The Dubai-based startup Arcab allows fleet owners to make more money by increasing the utilization of their vehicles. The company works with 40-plus operators including Europcar, Avis and Dubai Taxi corporation with over 3,000-plus buses in its supply pool, said a statement.
The funds will be utilized to build, maintain and scale its technology infrastructure that facilitates a multi-sided marketplace. It will also be used to create a sales and marketing engine to fuel 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. Its 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 support the startup and witness its growth," said Neeraj Tyagi, co-founder and CEO of We Found Circle, in the statement.
"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 Bilal Shabandri, co-founder and CEO of Arcab, in the statement.
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, added the statement.
