Peersome is a marketplace for car rentals and comes under the travel category. Headquartered in Bangalore, they aggregate cars from various self-drive vendors and provide a platform where consumers can view a dynamic inventory, compare and choose from over 150 cars and plans, to find the cheapest and most suitable option.
Being put up in October 2015, the primary challenge was that there were only a few vendors who operate with a self-drive license as it is an extremely hardest task to get one. They started incentivising these vendors to buy more and more cars by providing them higher returns through different demand streams and now manage to increase the inventory by over 20% mom without having to on-board more vendors.
When Sayanta and Pavani, IIT grads working at Flipkart, understood their complementary skill sets each other, it wouldn’t have been in their remotest thoughts that they would be leading together as a Co-Founders for a startup. Given few months, they decided to work on certain business opportunity that they observed. Little did they knew that they were going to make it big until they met the geek, Kedar, an RGPV, Bhopal grad through a mutual friend.
Peersome was selected for Tlabs accelerator program and funded by Times Internet in February 2016. Peersome is also one of the portfolio companies of Axilor Ventures’ Accelerator program.
Sayanta says, “We realised that any personal car is only used 5% of the time. For the rest of the 95% it lies idle and possibilities of using it during that time not only gives higher efficiency and fewer cars on the already congested roads, but also poses as a great business opportunity.”
However as they started working they realised that peer-to-peer car renting is legally complicated due to the division of commercial and personal licenses in India. They had to update their model a bit to aggregation of self-drive vendors but finally are working towards a modified p2p for the long run.
Sayanta Ghosh, Founder, Worked as Analyst at Flipkart and IIT Kharagpur grad, 2014.
Kedar Bramhe, Founder, Worked as Trainee at SIFY and RGPV, Bhopal is his alma mater.
Laxmi Pavani, Co-Founder, Worked as SCA at Flipkart and IIT Guwahati grad, 2014.
Startegy at Startup Cricket League
Sayanta says, they believe in “work hard, play harder“.
He adds, ‘As a team we keep having recreational activities every now and then to keep our work lives enjoyable and frolicsome. This cricket league would definitely give us a chance to take some time off to enjoy and we will be playing to win. As competitive as we are, our strength will be in the balance of talent in our team.’
Revealing about their future, the CEO says, ‘We are heading towards a model where individuals invest in the platform which encompasses all channels of vehicle rentals and thus get the highest returns in the market. In all this, sustainability and profitability is our main motto and with such a model we believe that we can scale this business, keeping it asset light and highly profitable.’
More about SCL 2016
Looking for good home made food at office? Try TinMen Prices start at just 70 RS per meal.