Why we invested in LetzRyd at UNLEASH
At UNLEASH, we are driven by the mission of investing in visionary founders who are not only solving large-scale problems but are also enabling financial inclusion by creating better earning opportunities and improving access to credit. After backing companies like Ayekart and CredRight, we are excited to announce our recent investment in LetzRyd, a pioneering vehicle leasing and fleet management company that is reshaping the landscape of ride-hailing in India.
The Indian ride-hailing industry has undergone phenomenal growth over the past decade, largely driven by two key players—Ola and Uber. Valued at over $9 billion as of 2023, the sector is projected to grow at a compounded annual growth rate (CAGR) of 15% over the next five years. Yet, this fast-growing industry faces several challenges, and that's where LetzRyd comes in.
Despite rapid expansion, the industry has three major pain points:
These issues not only hamper the growth of the platforms but also directly affect the livelihood and financial health of the drivers. LetzRyd’s model addresses all three challenges in a comprehensive manner.
LetzRyd stands at the intersection of the three pillars of the ride-hailing ecosystem—Ride-hailing platforms, Drivers, and Customers—offering a truly disruptive solution that benefits all stakeholders:
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At UNLEASH, we invest in solutions that have a real, measurable impact on society. What excites us about LetzRyd is not just the business model but the transformational impact it can have on drivers’ lives. By offering flexible leasing options and making vehicle ownership accessible, LetzRyd increases drivers’ net earnings by ~30-70%, empowering them to take control of their future and become microentrepreneurs.
Why LetzRyd is Poised to Win
We believe LetzRyd is uniquely positioned to succeed in this space for several key reasons:
LetzRyd’s vision aligns perfectly with our mission at UNLEASH: to invest in ventures that drive financial inclusion by creating meaningful earning opportunities. By helping drivers access vehicles and empowering them to become microentrepreneurs, LetzRyd not only addresses the needs of the ride-hailing platforms but also elevates the livelihoods of thousands of drivers, most of whom are migrants in metro cities from smaller towns, and their families.
We are thrilled to support LetzRyd on this journey and are confident that the company is set to play a transformative role in the future of mobility in India. Do reach out in case you want to connect with the founders or us.
FOUNDER/CEO OF ESMART RIDES
3wSubject: Unique Investment Opportunity in Esmart Rides - Transforming Transportation in Africa I’m excited to share a prime investment opportunity in Esmart Rides, an innovative electric vehicle (EV) taxi and ride-hailing service enacting change across Africa. Our Vision We plan to introduce 50,000 electric SUVs and MPVs, alongside 15,000 ultrafast solar charging stations and 50,000 rooftop LED screens in 50 cities across 30 countries, promoting sustainable transportation and boosting local economies. Achievements: - Secured $900 million for solar chargers.(15,000 pieces) - Acquired $70 million for rooftop LED screens.(50,000 pieces) - Partnered with three EV manufacturers, with plans to expand. Investment Opportunity: We are raising $50 million in exchange for 5% equity, promising significant growth and returns. We project $16 billion in revenue over six years, with a potential profit of $11 billion. Why Invest? - Potential returns of $550 million from your 5% stake in six years. - Opportunity to capitalize on a rapidly growing industry. I would love to discuss this opportunity further and explore potential collaboration. Warm regards, Douglas Baryeh Founder & CEO, Esmart Rides 233541758595 / douglasbaryeh@gmail.com
🚀 FinTech Innovator | White Label Payment Systems | Cross Border Payments | Payment Orchestration | 🎤 TEDx Speaker | Women Empowerment | Influencer Leadership
2moVisionary founders redefining mobility. Financial inclusion through innovative leasing solutions. Abhishek Kumar