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Zoomcar bets on its marketplace model ZAP; to expand in Asia and Africa

Self-drive car rental company Zoomcar is looking to double its revenue and fleet size in financial year 2018, which will be driven by its marketplace model, Zoomcar Associate Program (ZAP), the company said in a statement. The company had launched ZAP last year in April, to allow users as well as other individuals to buy one or more vehicles, which can be leased to Zoomcar on a revenue sharing model. ZAP allows users to buy vehicles on the company’s behalf and earn revenues by renting them when vehicle is not in use. This also allows Zoomcar to have less of self-owned vehicles and more of third-party vendors and dealers vehicles to its fleet. In order to boost third-party owned vehicles under ZAP, the company offers bank loans through its lending partners or let users buy a car with cash. Zoomcar…

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