Happy Easy Rides adds 150+ new cars to its fleet; eyes robust expansion by 2025
Attesting to the hard work and the customer-centric attitude, Happy Easy Rides (HER) has grown at an impressive CAGR of 30 percent
India, March 23, 2023: Happy Easy Rides (HER), one of the leading car rental companies in India, has announced a massive expansion of its operations via the addition of over 150 cars to its already expansive inventory. Moreover, the company, driven by the ambition of spearheading the unorganized yet highly profitable car rental business, has, by FY 25-26, set the goal of managing a massive fleet of 500 cars across 30 cities, including metros such as Kolkata and Mumbai and Tier-2 and emerging cities such as Jaipur, Lucknow, and Indore.
Established in September 2021 by co-founders Lalit Rajwanshi and Nimay Sharma, who are currently the CEO and CFO of HER, respectively, Happy Easy Rides has had phenomenal growth in the previous 18 months across Delhi NCR, Goa, Chandigarh, and Dehradun. Behind this envisioned growth of the car rental enterprise, Phase II of its expansion, lies the dedication of the core HER team, which comprehensively looks after the operations. Attesting to the hard work and the customer-centric attitude of the company, it is worth noting that in the short span of its operations, HER has grown at an impressive CAGR of 30 percent.
Thrilled by the expansion plan, Mr. Lalit Rajwanshi, the CEO of Happy Easy Rides said, “We are on a robust expansion journey so that we can reach more and more people, who increasingly need an easy-to-rent facility for cars. We began this entrepreneurial journey to create a niche for ourselves in the market and realized that car rental has a huge potential across cities as people are traveling more regularly and can afford to pay a certain amount as a premium to travel more comfortably, without having to break the bank. With every passing day, we strive to realize our determination to lead the industry, which has so far existed only in an unorganized manner. We strongly believe that we will revolutionize the car rental domain in India.”
With an extensive experience of over 10 years in the car rental space along with his executive experience across several notable companies such as Voler Cars, Heartz, Victoria Cars, HCL Tech, YouTube, and AmEx, Lalit leverages his first-rate operations-oriented skills to drive the profitability of HER. His industry knowledge and interpersonal skills are among the guiding forces behind the venture’s smooth and harmonious running as well as sought-after consumer experience.
Similarly, the astute business acumen and the team-player spirit of Mr. Nimay Sharma, much like that of Mr. Lalit, ensures the solid financial foundation of HER. To serve the heavy-duty financial demands of the company, as a CFO, Nimay draws from his experience across different niches in the world of Finance. His specialty includes Business and Financial Analysis, Corporate finance, Banking Relations, Business Strategy, team building, and Client Relationships. Additionally, his in-depth knowledge of the start-up eco-system, especially SMEs and MSMEs is instrumental in solving the many challenges initiatives such as Happy Easy Rides face.
About the expansion, on a similar note as Mr. Lalit, Mr. Nimay Sharma, the CFO of Happy Easy Rides said, “We are extremely delighted to roll out the expansion of Happy Easy Rides. India is a growing economy and the lifestyle change that ensues such rapid growth suggests that there is a huge demand for easy-to-rent cars. Moreover, the consumer today is waking up to the fact that owning a car is an expensive affair, however useful a car might be, especially in the fast-paced metro life. Therefore, renting is an attractive option, as one can enjoy the benefits of cars now, without the hassle of a hefty purchase. We strive to fulfill this need, with a firm belief the joy of driving is for all, regardless of how well-heeled one is.”
Informing the vision of Happy Easy Rides lies a simple idea: the comparative advantage of renting cars as opposed to owning them. Happy Easy Rides offers a robust argument in favor of renting a car, which is also widespread across the internet. The venture seeks to convince consumers that they can save themselves the debilitating task of considering the margin money, loan, interest rate, insurance, processing fees and other complicated decisions involved in a car purchase by simply renting. Moreover, recognizing the huge potential of the informal car rental sector, which has a scope for growth even in Tier-3 cities, Happy Easy Rides strives to fill a huge gap in the market by targeting a huge population who are ready to pay a premium on car rental and need the service of a car regularly but can not afford to buy it. As a result, HER not only attracts a broad consumer base via affordable rental options but also runs a comprehensive background check, ensuring that the customers have valid Driver’s Licenses and ID proofs so that the overall road safety, as well as the sanctity of the industry, are maintained.
The idea for the bombing start-up was conceived much before its inception. The co founder duo began conducting the necessary market research for the initiative in the June of 2021 when the pandemic was still fierce. The market research was followed by fundraising, which was achieved by August of the same year before the first set of cars and the initial working space was put into place by September when the brand journey began in full swing. A few months shy of its second anniversary, Happy Easy Rides is poised to completely transform the car rental industry.
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