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Rent my wheels: India's Drivezy brings driver and owner together

Peer-to-peer vehicle-sharing service eyes expansion in US and Southeast Asia

Drivezy, which lets private owners of cars and motorbikes rent them out to others, is looking to raise a total of $500 million to fund its expansion in India and Southeast Asia. (Photo courtesy of the company) 

NEW DELHI -- Drivezy, an Indian car and motorcycle rental platform with a unique peer-to-peer business model, aims to raise $100 million in equity funding and another $400 million in asset financing as it seeks to expand at home and overseas.

Bangalore-based Drivezy has emerged as India's top player in the private motorbike and scooter rental segment, where companies like Bounce and Vogo are fast catching up. In cars, Zoomcar, which operates in nearly 30 cities, is its biggest competitor.

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