Peer-to-peer (P2P) marketplace for car and bike sharing, Drivezy (formerly JustRide) has raised $10 million (Rs 65 crore) in an equal parts equity and debt deal, reports ETtech. The equity investment worth $5 million comes from Das Capital, and existing investors Axan Partners and IT-Farm, while the $5 million debt funding has been made by Mahindra Finance, ICICI Bank, Cholamandalam Finance and Shriram Finance. Drivezy's platform enables micro-ownership of personal cars. It connects vehicle owners with passengers looking for a ride. Passengers get access to a car at a fraction of what it would cost them to own it, and for owners it provides an opportunity to generate revenue or share the cost of owning the car. Drivezy had made the switch from a self-drive car rental marketplace to the P2P model last year. Currently, Drivezy has 1,318 vehicles listed across four cities - Mumbai, Bangalore, Pune and Mysore. In its earlier avatar, Drivezy (then JustRide) had raised $3 million in bridge funding from Susa Ventures, Kima Ventures, Axan Ventures, SCM Holdings, IT-Farm, and Y Combinator partners Justin Kan, Qasar Younis and Paul Buccheit, in November last year. At the time, the company had said that the funds will be used for its car sharing platform, plus on Yabber - an IoT device for driving skills analysis - and to scale its fleet up to 2,000 cars from 300. It had also bee a part of Y Combinator’s summer batch in July 2016, and received $120,000 from the accelerator for a 7% stake in the…
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