NewsVoir
Gurgaon (Haryana) [India], April 18: Drivio, a tech-enabled platform revolutionizing lending in the Indian two-wheeler market, has closed a pre-seed investment round of an undisclosed amount led by key industry players Rajesh Sawhney and Niyaz Laiq of GSF, Dinesh Hinduja Family Office and Avinash Kumar of Credenc.
Joining the investment round are a distinguished group of angel investors and fintech founders, including Dinesh Agarwal and Dinesh Gulati of Indiamart, Murugavel Janakiraman of Bharat Matrimony, Ankit Agarwal of InsuranceDekho, Gaurav Kapur of Oaktree Sports, Ashish Sehgal of ZEEL, Rameshwar Gupta of Ambak, Himanshu Tyagi of Witness Chain, Vivek Pillai of Alteria Capital, Sahil Chalana of Collegedunia, and Vibhor Sahare of ANS Commerce.
Founded by Saurabh Tripathi, Ankur Bhardwaj, and Arvind Yadav, Drivio aims to streamline the two-wheeler lending market in India through innovative technology solutions. This latest round of funding follows an initial investment of USD 1 million from Karini Ventures and Vansun Capital.
CEO and Co-founder Saurabh Tripathi expressed excitement about Drivio's future prospects, stating, "The Indian two-wheeler lending market is poised for significant growth, from its current levels of USD 10 billion to at least 3x over the next 5 years. Around USD 25 billion of financing will be required to support this growth. Drivio is dedicated to leveraging technology to revolutionize automotive lending, addressing critical pain points for dealers, lenders, and customers."
Niyaz Laiq, Partner at GSF, stated, "We are thrilled to invest in Drivio, as Saurabh, Ankur and Arvind build out India's pre-eminent two-wheeler financing platform. From our first meeting, we were struck by the founders' decades of experience across the motor vehicle space. Drivio's platform is a win-win for the entire two-wheeler ecosystem: democratizing access to finance for consumers across small towns who may not traditionally get a loan, consistently driving up revenue growth for its dealer network, and providing lenders on-ground presence across India's small and medium dealers."
The fresh infusion of capital will enable Drivio to expand its footprint across tier 2 and 3 cities, as well as drive further innovation in product development and technology. The company plans to forge deeper integrations with a broader network of lenders to enhance its offerings and better serve its growing customer base.
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