07 Oct '17, 8pm

Indian Self-Drive Car Rental Firm Beats Uber in Bitcoin Adoption

Indian Self-Drive Car Rental Firm Beats Uber in Bitcoin Adoption

Uber might be dithering about accepting Bitcoin payments, but an Indian car sharing firm has taken the lead. It claims to have raised $10 mln in funds, accepts cryptocurrencies and is planning an ICO. Drivezy takes the leap A self-drive rental firm in India , Drivezy, has raised $10 mln in a combination of debt and equity from American and Japanese investors, including Axan Partners that have invested $5 mln for an equity stake in the company. The company has a fleet of over 1300 vehicles in four cities in India. A consortium of Indian banks and financial companies have subscribed to $5 mln of debt. The company is also coming out with an ICO , to raise 17,625 ETH (~$5 mln). The CEO and Co-founder of Drivezy, Ashwarya Pratap Singh, said: "Considering the rising cost of important assets and resources such as housing and transportation, I believe the future is a shared one. W...

Full article: https://cointelegraph.com/news/indian-self-drive-car-rent...

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