Drivemate Co., Ltd.
Have updates for this profile? Please contribute data
= Subscriber Access Only
You are viewing a preview of this profile. Request a Preqin Pro demo for full access to all profiles and underlying data.
With Preqin Pro, you gain an unobstructed view of all alternative asset class activity across institutional investors, fund managers, funds, portfolio companies, deals, exits, and service providers.
Drivemate Co., Ltd. - overview
Established
2016
Location
Bangkok, -, Thailand
Primary Industry
Transportation Services
About
Drivemate Co. , Ltd. is a Thailand-based company that provides a platform for vehicle-sharing, connecting car owners with users seeking flexible rental options. Its innovative solutions cater specifically to urban mobility needs.
Founded in 2016, Drivemate Co. , Ltd. operates from Bangkok, Thailand, specializing in vehicle-sharing services that connect users with vehicle owners. The company has successfully closed three deals, with the latest being a Series A funding round of USD 2.
20 mn led by NetSol Technologies on December 7, 2023. The founders of the company are Sikharin Cholpratin, Silratth Sukwatthanasiri, and Thanyatorn Thitiseranee, with Silratth Sukwatthanasiri serving as the CEO. The total amount raised by the company to date is USD 2. 20 mn.
Drivemate Co. , Ltd. specializes in innovative vehicle-sharing solutions through a comprehensive platform that connects users with vehicle owners. This service facilitates peer-to-peer car rentals, allowing individuals to rent their vehicles when not in use.
Its user-friendly mobile application ensures a smooth booking process, meeting the growing demand for flexible transportation options primarily in Southeast Asia, leveraging markets such as Thailand, Malaysia, and Indonesia. In 2022, Drivemate Co. , Ltd. reported a revenue of USD 246,783.
20, with an EBITDA of USD -11,384. 60, generated through a transaction-based model where users pay fees to rent vehicles from private owners. This model includes short-term rentals and longer-term subscriptions, incorporating premium services such as insurance and roadside assistance, thus aligning with the company’s mission to innovate urban mobility solutions. Following the acquisition by Bizcar Rental on December 7, 2023, Drivemate Co.
, Ltd. aims to strengthen its platform and expand its product offerings. The company plans to introduce new products designed to enhance user experience and increase market share. The recent funding from this acquisition will support these initiatives, as well as plans to expand into additional Southeast Asian markets, further developing its presence beyond its current operational areas.
Current Investors
500 Global, DTAC Accelerate
Primary Industry
Transportation Services
Sub Industries
Car Hire Services, Search Engines, Web Applications
Website
www.drivemate.asia
Verticals
E-commerce
Company Stage
Acquired
Total Amount Raised
Subscriber access only
Drivemate Co., Ltd. - timeline of key events
Drivemate Co., Ltd. - financials
| Fiscal Year Ended | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|
| Revenue (USD) | 3,726,733.6 | 7,306,990.8 | 15,456,633.7 | 11,937,055.3 | - | - | - |
| % Revenue Growth (YoY) | - | 96.1% | 111.5% | (22.8%) | - | - | - |
| EBITDA (USD) | 924,663.6 | (7,240,323.4) | (14,253,364.3) | (5,015,812.5) | - | - | - |
| Operating Income (USD) | 921,404.4 | (7,293,444.8) | (14,844,757.1) | (5,766,453.9) | - | - | - |
| Operating Margin | 24.7% | (99.8%) | (96.0%) | (48.3%) | - | - | - |
| % EBITDA Margin | 24.8% | (99.1%) | (92.2%) | (42.0%) | - | - | - |
| NET Income (USD) | 859,264 | (7,293,444.8) | (14,933,062.4) | (5,856,097.2) | - | - | - |
| % Net Margin | 23.1% | (99.8%) | (96.6%) | (49.1%) | - | - | - |
Drivemate Co., Ltd. - employee data
Time to go Pro
Get Preqin Pro for unrestricted access to 600,000+ detailed profiles on fund managers, investors, funds, companies, and other alternative asset players. Unlock exclusive data on future plans, company financials, fundraising history, track records, and more.