Motoqaa, a Kenyan startup ride-hailing company, has upgraded business operations into a digital platform that manages lease-to-own vehicles. The platform operates in an open market that serves as an empowerment program for the state’s residents to own cars within its time frame.
The lease-to-own platform specialized for the ride-hailing industry commenced its digital peer-to-peer services in June 2020. The digital peer-to-peer network makes credits available for drivers [clients] to purchase its vehicles, a platform for drivers [clients] to generate incomes and assist its subject in managing their contract.
Five months ago, the startup started its digital operations, and as it stands, they are still sourcing for more clients.
The company’s founder shared a hint on how to qualify past its criteria to access its credit program. The driver [client] has to have an initial startup capital to access a vehicle and its pre-installed management program to be eligible.
Motoqaa Chief Executive Officer, Mugambi Munyua: “We source for drivers, collect payments, and manage operations necessary to keep the vehicles and drivers on the road.”
Mugambi Munyua said that he has been in the ride-hailing [taxi] industry since 2016 and as of April of 2019, he initiated a partnership with Olivia Gachoya (the co-founder of Motoqaa) to achieve business growth overtime.
Motoqaa manages a fleet of 28 active vehicles and still sourcing for clients to possess more cars. The low figure is because they have been funding Motoqaa with their own resources but that could change in the near future.
Munyua said “We have advanced our operations by building in-house technology to implement pay-as-you-go models for vehicles using devices that can immobilize or mobilize the vehicle based on the status of the payment.”
The ride-hailing company aims to influence the industry and contribute its revenue share to the Kenyan economy by empowering its citizens with jobs. The business aims to generate returns for its investors. However, it is a win-win for every participant in Motoqaa.
He noted that the drivers prefer the option that gives them the right as owners of their vehicles for hailing. Still, the potential drivers are not empowered with the means to credit facilities. Munyua said “Partners are looking to build wealth and to make funding flow across Kenya and beyond. They seek a return of capital and additional profit.”
The business’s indulgence is centered on acquiring wealth, whereas drivers need to acquire assets while partners seek investment return. To attain business growth, Motoqaa seeks drivers with the potential of implementing its tasks and finalizing the contract. The digitized peer-to-peer network model manages the income generated by the clients.
He said: “This will allow us to scale faster and be more impactful to the community of drivers. The move will also see us earn revenue from marking up the vehicles ourselves.”
By 2021, the startup company expects to raise seed to finance the business to grow across Kenya and probably other markets as well