VMPL
Bangalore (Karnataka) [India], June 6: Prorata, a Bangalore-based start-up, is creating waves in the automotive industry with its pioneering co-ownership model for premium, luxury and off-roading cars. By offering a unique approach to car ownership, Prorata is set to change the way Indians experience high-end vehicles.
Founded by Sanjeev Kumar Jain, a serial entrepreneur with a vision to redefine car ownership, Prorata aims to empower middle and high-income families by providing an innovative solution to share the cost and usage of premium cars for leisure with nearby residents. To improve the lifestyle of the middle class. and lifestyle objectives.
how it works:
Prorata's co-ownership model divides each premium car into 12 tickets of ownership, with each ticket representing 8.33% ownership.Co-owners have the opportunity to purchase up to three tickets, giving them access to the car for 30 days per ticket over a five-year period. This user-friendly model allows owners to book their usage days through a convenient mobile app, ensuring flexibility and convenience. The cars are delivered with a full tank of fuel by a professional driver and picked up after use, providing a seamless experience for all co-owners. After five years, the car is sold through a bidding process in the ProRata app, and the resale value is distributed back to its respective co-owners.
use cases:
Prorata's model caters to two strong use cases: capacity and positioning, as Prorata founder Sanjeev Jain explained in a Shark Tank season 3 episode.He also expressed three more use cases in the podcast with Ayushmann Pandit. Firstly urban professionals ideally visit their hometown within a radius of 200-400 km; Secondly, NRIs visit India once or twice a year; The third one is fond of off-roading and sports cars.
Offered Services and Revenue Model:
The prorata revenue model includes Annual Maintenance Charges (AMC) per ticket per year, which includes a comprehensive package of car co-ownership, including car pick-up and drop-off service, insurance premiums and claims, periodic service and maintenance. Is. and allocating costs to co-owners, ensuring proper use of the vehicle.
Best selling cars:
Based on their data, Prorata's best-selling cars for the off-roading segment include Mahindra Thar, Jeep Wrangler and Land Rover Defender.For the seven-seater segment, the fastest selling cars are Mahindra XUV700, Toyota Innova Hycross and Toyota Fortuner. To experience luxury, the Mercedes GLC, Audi Q5, BMW X5 and Jaguar F-Pace are in high demand, while the Mini Cooper, Porsche 911 and BMW Z4 group are popular among sports car lovers.
Shark Tank Funding: Prorata's presence on Shark Tank India S3 marks a significant recognition of its innovative idea by sharks Anupam Mittal and Piyush Bansal, who recognized the potential in the founder's vision of the future of car co-ownership. His expertise will help the company grow rapidly and create an entirely new category.
Future Plans: With the support of Anupam Mittal and Piyush Bansal, Prorata plans to expand its operations across Mumbai, Delhi NCR, Hyderabad, Chennai, Kolkata, Chandigarh, Pune, Jaipur, Ahmedabad and Surat, introduce more premium car models and enhance is planned.Its mobile app for better user experience. With innovative solutions, customer-centric approach and strong investor backing, Prorata is set to enhance the lifestyle of millions of Indians.
For more information, visit ProRata's official website https://www.proratacar.com/.
Bangalore (Karnataka) [India], June 6: Prorata, a Bangalore-based start-up, is creating waves in the automotive industry with its pioneering co-ownership model for premium, luxury and off-roading cars. By offering a unique approach to car ownership, Prorata is set to change the way Indians experience high-end vehicles.
Founded by Sanjeev Kumar Jain, a serial entrepreneur with a vision to redefine car ownership, Prorata aims to empower middle and high-income families by providing an innovative solution to share the cost and usage of premium cars for leisure with nearby residents. To improve the lifestyle of the middle class. and lifestyle objectives.
how it works:
Prorata's co-ownership model divides each premium car into 12 tickets of ownership, with each ticket representing 8.33% ownership.Co-owners have the opportunity to purchase up to three tickets, giving them access to the car for 30 days per ticket over a five-year period. This user-friendly model allows owners to book their usage days through a convenient mobile app, ensuring flexibility and convenience. The cars are delivered with a full tank of fuel by a professional driver and picked up after use, providing a seamless experience for all co-owners. After five years, the car is sold through a bidding process in the ProRata app, and the resale value is distributed back to its respective co-owners.
use cases:
Prorata's model caters to two strong use cases: capacity and positioning, as Prorata founder Sanjeev Jain explained in a Shark Tank season 3 episode.He also expressed three more use cases in the podcast with Ayushmann Pandit. Firstly urban professionals ideally visit their hometown within a radius of 200-400 km; Secondly, NRIs visit India once or twice a year; The third one is fond of off-roading and sports cars.
Offered Services and Revenue Model:
The prorata revenue model includes Annual Maintenance Charges (AMC) per ticket per year, which includes a comprehensive package of car co-ownership, including car pick-up and drop-off service, insurance premiums and claims, periodic service and maintenance. Is. and allocating costs to co-owners, ensuring proper use of the vehicle.
Best selling cars:
Based on their data, Prorata's best-selling cars for the off-roading segment include Mahindra Thar, Jeep Wrangler and Land Rover Defender.For the seven-seater segment, the fastest selling cars are Mahindra XUV700, Toyota Innova Hycross and Toyota Fortuner. To experience luxury, the Mercedes GLC, Audi Q5, BMW X5 and Jaguar F-Pace are in high demand, while the Mini Cooper, Porsche 911 and BMW Z4 group are popular among sports car lovers.
Shark Tank Funding: Prorata's presence on Shark Tank India S3 marks a significant recognition of its innovative idea by sharks Anupam Mittal and Piyush Bansal, who recognized the potential in the founder's vision of the future of car co-ownership. His expertise will help the company grow rapidly and create an entirely new category.
Future Plans: With the support of Anupam Mittal and Piyush Bansal, Prorata plans to expand its operations across Mumbai, Delhi NCR, Hyderabad, Chennai, Kolkata, Chandigarh, Pune, Jaipur, Ahmedabad and Surat, introduce more premium car models and enhance is planned.Its mobile app for better user experience. With innovative solutions, customer-centric approach and strong investor backing, Prorata is set to enhance the lifestyle of millions of Indians.
For more information, visit ProRata's official website https://www.proratacar.com/.
