Dubai, UAE: Invygo, the MENA region’s first app-based car subscription, has signed its first car hire partner in Saudi Arabia, cementing the beginning of their expansion in the Kingdom later this month. Through its new partnership with Budget Rent a Car Saudi Arabia, Invygo will begin offering multiple brands of quality cars which are latest models for monthly subscription to the residents of Saudi Arabia.

Customers in Saudi will soon be able to subscribe to vehicles through the Invygo app with an all-inclusive monthly payment, with no deposits, long-term commitment or hidden fees involved. Motorists pay monthly to drive the car, get it delivered to them, and can even request servicing, or return their car with the tap of a button whenever required. Invygo aims to attract users who are looking for a high-quality customer experience and an alternative to the traditional car ownership and leasing options. After raising 1 million USD funding in its seed round just a few months ago, Invygo has already begun expansion to Saudi Arabia. Growing at a steady pace the car subscription app plans to expand to more cities in Saudi Arabia and set foot into Bahrain and other GCC countries soon. This landmark deal marks the company’s entry into the Saudi market. Operations will begin in Riyadh in March 2020 and extend to cities like Dammam, Jeddah and other KSA cities in coming months.

Co-founder and CEO Eslam Hussein comments: “We’re excited to enter the dynamic market of Saudi Arabia. This is our first ever partnership outside of the UAE which will help us bring a superior driving experience to Riyadh and eventually many more cities in Saudi Arabia.”

“The significant funding we’ve received has helped us grow and expand the Invygo platform to a second market in just a few months. Our business has grown significantly in the UAE and we intend to push it to greater heights through this deal with Budget Saudi.”

Fawaz Danish, President and Group CEO of Budget Saudi comments: “We are happy to be the launch partner of Invygo in Saudi Arabia. Budget Saudi is always looking to embrace new technologies and ideas that are disrupting the market. Offering latest model cars, friendly service and exciting customer experience on the first car subscription app in the Middle East will allow us to attract new, more tech savvy customer segments that prefer the flexibility that subscription offers.”

Ali Albanna, General Manager of Invygo in KSA comments: “We are eager to start offering an affordable, stress and commitment free substitute to owning a car in Saudi Arabia. With Budget Saudi as our launch partners, we will be able to offer multiple models from highly demanded brands on our platform. Budget Saudi’s reach and expertise provides us with valuable support across the kingdom.”

Invygo was founded by Eslam Hussein and Pulkit Ganjoo whom are both IE Business School Alumni and have extensive experience in the automotive industry, finance and machine learning. Working in the automotive sector, Eslam first realized that there is a significant gap between today’s fast-paced consumer demands and the traditional, limited options offered in the market. With this insight, he began working on Invygo to eliminate the time-consuming process of car procurement. The focus was to make getting a car more customer-centric by giving consumers the ability to book a specific car, with the flexibility to change or upgrade as needed - all without owning a depreciating asset.

Budget Saudi, founded in 1978, is the largest car rental-leasing company in Saudi Arabia, with a fleet of over 29,000 vehicles. It is the largest franchisee of the ABG Group globally and operates in every region in the Kingdom with around 100 retail locations. Budget Saudi is listed on the Saudi Stock Exchange.

More information can be found on www.invygo.com

-Ends-

For media queries please contact:
Kritika Kaushik, Senior Account Executive at Brazen
Invygo@wearebrazenpr.com  / +971 (0)4 240 8395

Website: click here
Facebook: @Invygoapp
Instagram: @Invygoapp

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.