YatraGenie, an online bus ticketing and cab booking platform run by Bengaluru-based Paxterra Software Solutions, has tied up with non-banking finance company Sundaram Finance Limited to create 50,000 entrepreneurs in the next two years.
The partnership, which is similar to the one entered into between Ola Cabs and State Bank of India in February 2015, will help drivers to turn entrepreneurs and be self-sufficient. Under this partnership, Sundaram Finance will finance cars at a very attractive rate when cars are bought and financed through YatraGenie franchise programme.
YatraGenie, which is currently present in Bengaluru, Nellore, Tirupathi, Gudur, Kavali and Vijayawada, is planning to set up operations in 65 cities and towns with an inventory of 25,000 cabs by the end of 2015. It is poised to expand services into airline, hotels and logistics management by the end of fiscal year 2015-16.
"This programme will provide easy access to capital for drivers who want to own a car. The Indian cab segment has immense potential and the demand for cab services is only going to increase in the months to come. Through this tie-up, we want to empower drivers to become entrepreneurs," Renil Komitla, chief executive of Yatragenie.com, said in a release on Tuesday.
