Dryve

Dryve operates as a peer-to-peer car-sharing platform, originating in Cairo, Egypt, before relocating its headquarters to Dubai. The company was founded in late 2018 by CEO Gamal Aboul Enein and Jeremy Green. Dryve was established to address a gap in the Egyptian market, where a large number of cars remain idle while demand for rental vehicles, particularly for ride-sharing drivers, is high.

The business model is centered around a mobile application that connects car owners with individuals seeking to rent vehicles, referred to as 'dryvers'. This structure allows car owners to generate income from their underutilized assets, while renters gain access to vehicles at rates often below traditional car rental companies. The platform's revenue is generated by facilitating these transactions. A key client segment for Dryve includes drivers for ride-sharing services like Uber, following a strategic partnership established to provide them with easier access to vehicles. This collaboration aimed to tap into Uber's demand pool while addressing the vehicle access challenge for many potential drivers.

The platform offers a fully digitized rental process, from booking to payment. To build trust and ensure security in a market with low insurance penetration, Dryve partnered with AXA to introduce a 'Pay As You Drive' (PAYD) insurance policy. This was the first fully digitalized insurance claims process for car rentals in Egypt. The company also integrated with local payment provider Fawry to accommodate cash-based transactions, addressing the low percentage of banked individuals in the region. Although PitchBook data indicates the company ceased operations in March 2024, the platform 'Dryve-Now' appears to be active in Egypt, offering similar app-based car rental services.

Keywords: peer-to-peer car sharing, P2P car rental, mobility tech, Egypt transportation, vehicle rental platform, ride-sharing vehicle solutions, digital car rental, on-demand car rentals, asset monetization, Gamal Aboul Enein, Pay As You Drive insurance, AXA partnership, Uber partnership, Middle East mobility, car sharing app, vehicle marketplace, short-term car rental, Fawry payment integration, digital insurance, automotive technology