The United Arab Emirates (UAE) remains hub for innovation. In line with their motto to bring about a change which has the potential to impact people’s lives for the better, a youth-led company has come up with a new initiative.
Beno Technologies, based in the UAE, has come up with an innovative platform which is geared to revolutionise the vehicle renting sector within the country.
The automative market has been severely disrupted by the introduction of the new technologies and on-demand mobility services, which has opened doors to new initiatives to solve the issues.
The company led by youth has recognised the underlying problem and also the emerging opportunities which comes with them.
Beno Technologies has laid foundation to a community-based vehicle rental marketplace which will not only increase the traditional sales for the partners but also give birth to a more efficient, data enabled, and technology driven ecosystem with consumers at its heart.
This initiative has been labeled as a visionary start-up which will deal with very real problems and overcome them through an intuitive manner.
The co-founder of Beno Technologies, Ahmad Eshtieh, said:
Keeping both our partners and customers happy is the reason we do what we do. With that, success follows. We are a community driven bunch looking to fill all gaps of our industry with state-of-the-art technology and constant innovation to enhance our customer’s experience.
The venture has attracted a number of venture capatalists and investors for their vision, innovation, and energy. The company has already raised a seed round and is valued at AED 10 million.
There have been several studies made in the field of online rental. According to a study conducted by Euromonitor International, the total car rental sales in the UAE by 2022 is said to reach AED 1.85 billion. The expected growth rate between the year 2020 and 2023 is said to be around 14.8 percent.
“Our launch confirms Beno’s continued dedication to spearheading technological innovation within the technology and overarching business community,” said Mohammed Awad, Co-founder, Beno Technologies.