Success of Proexe’s client - Telgani with $2.5M grant

Proexe's regular client Telgani - the leader in car-sharing in Saudi Arabia received $2.5M in funding.

Proexe's regular client Telgani, a car-sharing company, received $2.5M in funding. In just 4 years Telgani has become the leading car rental company in Saudi Arabia, working closely with Proexe. The company has also introduced innovative solutions previously unknown in the Gulf states.

Telgani's success

Telgani received funding in a seed round from 500 Startups, Saudi Venture Capital Company, Impact46 and a group of angel investors. Impact46 is an asset manager specialized in alternative investment opportunities in Saudi Arabia. Basmah Alsinaidi - partner at Impact46 commented on the award of the money to Telgani as follows: “Telgani is tackling a great opportunity in the car rental space, especially with customer behavior currently changing to look for simple solutions of streamlining the long process of searching and renting transportation. We're proud of the Telgani team who are a top tier team that are playing a key role in the disruption of this market." Since its inception, the company has been working closely with Proexe, which has developed a system and application to enable car rental.

New solutions

Telgani was founded in 2018 in Riyadh by Abdul Kader AlMckinzy. The company provides car rental in the UAE and Saudi Arabia. In 2019 there was a 300%  increase in the number of cars rented through the platform. Cars can be hired or ordered at a specific location.  There are also different rental options: daily, monthly and yearly. In some cities, it’s possible to rent a car with a driver. The company is the clear car-sharing leader in the UAE and Saudi Arabia, as evidenced by an industry of 230,000 active users and more than 350,000 rental days on the platform since 2018. Telgani has revolutionised the market with the functionality of its proposed solutions. In 2020 Telgani launched new projects including "Telgani Quick" - the first self-service car rental device was introduced, which allows the user to rent a car in just 3 steps.

The future

Telgani does not intend to rest on its laurels, the $2.5M raised is to be used to further develop its platform and expand its offering to other countries in the region. “Today, there are approximately 4 million rental vehicles servicing Saudi Arabia, and it's expected to get to 4.4 million in the next four years (...) We're really excited about what the next 12 months hold for Telgani. We are experiencing one of the most significant and important developments towards Vision 2030, and we consider ourselves fortunate to be in the position to join this movement in building a more efficient and sustainable car rental industry. (...) Our marketing strategy takes place within two interrelated segments. On the corporate market, we have a focus on airports and hotel surroundings. While in the leisure segment, our rental services target agency owned facilities that are conveniently located around major roads and metropolitan areas” - Telgani representatives say.

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