A new thriving tech start-up ‘Dryve’ is tapping a dormant market in Egypt as the first and leading peer-to-peer car sharing platform substituting car rental companies through a digitized app. Dryve allows ‘car owners’ to earn extra income from their idle cars, while allowing ‘dryvers’ access to countless vehicles with rates that are below those of traditional car rental companies. While revolutionizing the transportation space in Egypt, Gamal Aboul Enein, CEO and Co-Founder of Dryve, believed that “Dryve opens up the doors for car owners to easily yield investment from assets that they use only 3 percent of the time.” This way, the startup will heavily influence the local transportation sector that has been going through a transformation throughout the past decade. According to Aboul Enein, the rental car market in Egypt is very fragments with over 75 percent of the transactions taking place in an informal market. Taking that into account, Dryve aims to formalize the market by introducing a platform that monitors these transitions which will ultimately regulate the sector. While each rental car company has fleets of a few hundred cars, the local start-up has managed to…
