Ejaro is a licensed car sharing application in Saudi Arabia. It was launched in late 2019 by Mohammed Khashoggi to connect car owners with people looking to rent vehicles. It is the first application of its kind in the Kingdom.
“One of the main challenges was creating a whole new process, getting the platform regulated and licensed, to have that trust element was one of the most difficult things we had to do this year,” says Khashoggi, Founder & CEO of Ejaro to WAYA.
The platform allows car owners to have an alternate source of income since they can rent out their cars with the trusted Ejaro community. This is done through an easy-to-use platform, which saves time, money and effort for its users, as Khashoggi sees the future as a sharing economy.
The way the app works is easy, as Khashoggi explains: “The owner registers his car with Ejaro, and the app works to rent it to users, and the app is available in all smart app stores.”
Additionally, the startup takes care of legal procedures between the owner and the renter. This includes a comprehensive insurance service for the car which it requires that the car be owned by the person renting it out through their platform.
As for how the company makes money, Khashoggi explained to WAYA that 20% of each transaction goes to Ejaro while the rest goes to the vehicle owner.
The startup has more than 2,500 car owners using the platform. Recently, it secured a Pre-Seed round, to expand to other cities of the Kingdom. Although, Khashoggi has big plans for the future. “In the future, we are looking to expand into the GCC and the MENA,” he concludes.
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