Have you ever watched the entry of the hero in a movie? He always emerges in a luxury premium car with undeniable swagger, captivating everyone’s attention. It’s the kind of moment that makes you yearn for the same spotlight. You think, “I want a car like that. I want to turn heads when I drive by.” In today’s social media-driven world, everyone wants to be a hero. And if you ask anyone about their dream, they’ll likely mention owning a car.
But here’s the reality check: cars are expensive, and the quality often doesn’t match the price tag. That’s where Pro Rata comes in.
Introducing ProRata Car : Making Dream Cars Affordable
Pro Rata is not just another car ownership platform; it’s a game-changer. It’s the world’s first fractional car ownership platform, allowing you to own your dream car for as little as Rs. 8.33. Yes, you read that right.
Our innovative algorithm matches you with like-minded individuals in your area who share an interest in your dream car. Together, you form a group and pool your resources to buy that brand-new car. With Pro Rata, you can become a proud owner without breaking the bank.
Our Vision: Making Dreams a Reality
At Pro Rata, our vision goes beyond just owning a car. We aim to create a tech platform that fulfills people’s dreams while remaining asset-light. With our app already boasting over 2 lakh downloads, we’re well on our way to transforming the car ownership landscape.
Meet Sanjeev Jain: The Man Behind ProRata Car
Namaste, Sharks. My name is Sanjeev Jain, and I hail from Bangalore. As a Chartered Accountant and the Founder/CEO of Pro Rata Car, I’m here to revolutionize the way people think about car ownership. My ask today is 1 crore in exchange for a 2 percent equity stake in my company.
A Journey of Innovation: From Bihar to Bangalore
My journey began in Kishanganj, a small town in Bihar. At 23, I ventured to Kolkata for my studies and embarked on a seven-year journey to become a Chartered Accountant. But I didn’t stop there. I knew I wanted to do something bigger, something that would make a difference.
So, I moved to Bangalore, drawn by its vibrant ecosystem, and launched my first startup in the real estate sector. Despite facing challenges, we managed to generate revenue of Rs. 15 crores before eventually closing during the Covid period.
ProRata Car in Action: How It Works
Now, let’s delve into how Pro Rata works. Imagine browsing through our app, exploring various dream car options, from a Mahindra Thar to a premium luxury sedan. You calculate the ticket price, divide it by 12 (representing the months in a year), and voila – you have your share.
For example, let’s say a Mahindra Thar costs 18 lakhs. Divided by 12, that’s 1.5 lakhs per ticket. Each ticket equates to a share in the LLP (Limited Liability Partnership) where the car is registered, along with 30 days of usage credit per month for up to 5 years.
Navigating Challenges: Operational Insights
As with any innovative venture, Pro Rata isn’t without its challenges. Operational intricacies, consumer mindsets, and valuation concerns are just a few hurdles we’ve encountered. However, with strategic planning and a dedicated team, we’re poised to overcome these obstacles.
Facing the Sharks: A Rollercoaster of Feedback
Entering the Shark Tank was a nerve-wracking yet exhilarating experience. As I pitched Pro Rata to the esteemed panel of Sharks, I received a myriad of feedback, ranging from skepticism to intrigue.
While some Sharks raised valid concerns about valuation and consumer behavior, others recognized the potential of our unique business model. Ultimately, securing a deal at a valuation of 10 crores marked a significant milestone for Pro Rata.
Offer’s Given By Sharks:
Original Ask: 1 crores for 2% equity
Anupam and Peyush Offer : 50 Lakhs for 10% equity + 50 Lakhs for Debt on 14 % interest Valuation 5 Crores
Deal Closed With Anupam and Peyush Offer : 50 Lakhs for 10% equity + 50 Lakhs for Debt on 14 % interest Valuation 5 Crores
Conclusion: Driving Dreams Forward
In conclusion, Pro Rata is more than just a car ownership platform; it’s a testament to innovation and perseverance. By democratizing access to dream cars, we’re empowering individuals to turn their aspirations into reality.
So, whether you’re a car enthusiast longing for that off-road adventure or a trendsetter craving the spotlight, Pro Rata is here to make your dreams come true. Join us on this exhilarating journey, and let’s drive dreams forward together.
Also check for Empowering Rural Women: The Story of Farm Didi
Leave a Reply