03 OVERVIEW The first peer to peer car borrowing in MENA with the aim of disrupting the mobility and auto-insurance market, based in Name Dubai FRIENDYCAR WHAT PROBLEM(S) DO THEY ADDRESS? Contact FriendyCar One of the most underutilized resources we have is “Private Dubai Internet City, Dubai Cars”. On average, our cars are only used about 5% of the time. www.friendycar.com At a macro-level, cars cause congestion, parking difficulties Leadership Team and other negative effects on any country’s infrastructure, Abdelrahman Elgamal // CEO and on the environment as a whole. At a micro-level, every Ahmed Anwar // CTO car owner has to pay maintenance, insurance, and parking Abdulrahman Almoeiqal // CBDO fees, not to mention the depreciation cost, while not using the car 95% of the time. Stage In addition; the auto-insurance market is lacking data and is Seed - $550k raised very traditional towards their offierring, which makes it Currently raising $3M unfair towards low mileage and/or safe drivers HOW DO THEY SOLVE IT? FriendyCar’s philosophy is “less cars, but with better quality and more usage”, which can be realized initially by allowing people to borrow cars from each other. Every car shared can take around 6 cars off the road, reducing infrastructure investment needs, decreasing pollution, increasing green areas and ultimately a better economy. Also, FriendyCar is connecting all the cars on its platform, through its devices, to the cloud; allowing for the collection of car data and better offering towards auto-insurance products. WHAT IS THEIR SOLUTION PRODUCT(S)? A car borrowing platform for car owners to let others borrow their car, complemented by an analytics and tracking dongle which provides telematic data about every vehicle used/ borrowed on the Friendycar network. WHAT IS THEIR COMPETITIVE EDGE? First to market, innovative approach allowing minimum capital investment, faster scalability and focus on technology, product depth beyond the tradition car rental model, big data The program introduced me analytics and repeat customer to great mentors who ROADMAP provided me with helpful insights on how to grow my The 2018 roadmap is to gain approval and official licence business from RTA before launching in Dubai fully. Also Launching Friendy-Insurance “Low mileage insurance” product. SBC Program Report | 24