Drivezy, the India based Y-Combinator backed car-sharing firm has raised Rs 65 crore ($10 million). Partially, the company has used the funds to begin accepting Bitcoin payments on their niche.
Ashwarya Singh, Drivezy CEO, told Econotimes,
“We have started accepting cryptocurrency such as bitcoin for transactions on our platform. We have seen 150-160 transactions through that mode so far”.
Further, the firm plans on using its fundraising simplify the Bitcoin acceptance process for their ridesharing software.
Partnership with Unocoin to Enable Bitcoin Payments
To simplify the process of Bitcoin transaction process, the firm has partnered with Unocoin. Additionally, the company has even declared ICOs for Drivezy. Their own cryptographic tokens allow people to own stake in the company and possess part of their vehicle fleet.
“Drivezy has partnered with Unocoin to enable bitcoin transactions and has also launched its Initial Coin Offering (ICO) to enable ownership of vehicles on its platform across the globe through bitcoins. The offering will allow individuals to buy or invest in the cars and purchase cryptographic tokens entitling them to a share of the revenue generated by rental transactions on the platform”.
Drivezy’s Future Plans
As the company grows, the move to accepting Bitcoin payments represents a shift to Bitcoin acceptance with many cars related startups. Accordingly, Drivezy has already in the fast lane of Bitcoin acceptance. The company is taking initiatives to widen its base of operation in India.
“We will be launching cycle rentals in Bangalore next month. We are also looking to launch operations (for cars and bikes) in Kochi, Udaipur, Chennai, and Hyderabad next”.
In regards of spreading Bitcoin usage and adoption, Drivezy car-sharing firm is making headwind and setting the stage for more typical adoption in India.