eZhire Achieves 102% Annual Growth as It Becomes the Largest B2C Rental Car Service for residents in the UAE

Dubai, United Arab Emirates, October, 2024: eZhire, the world’s first fully on-demand car rental platform, is celebrating a remarkable milestone, reporting an outstanding 102% Compound Annual Growth Rate (CAGR) since its inception in 2016. This tremendous growth underscores the increasing demand for eZhire’s innovative, customer-centric approach to car rentals across the Middle East.

Founded to disrupt the conventional car rental process, eZhire has transformed the traditional car rental industry by eliminating the need for security deposits, paperwork, and physical storefronts. The company’s fully digital, app-based service offers a seamless rental experience, allowing customers to order vehicles 24/7, with delivery directly to their doorstep. This disruptive approach has positioned eZhire as a leader in revolutionizing mobility across the region.

Operating across the UAE, Qatar, Bahrain, and Saudi Arabia, eZhire is committed to providing unparalleled convenience, flexibility, and transparency. As of October 2024, eZhire has become the largest B2C retail rental car service company for residents in the UAE. With over 650,000 app users, 300,000 vehicles delivered, and over 4 million total rental days, the company continues to cater to a diverse range of customers, including young drivers, tourists, and those new to driving. eZhire's commitment to innovation and hassle-free service is driving its success and broadening its reach to underserved segments of the population.

“Our continuous growth at over 100% annually demonstrates the success of eZhire’s customer-centric, technology-driven approach," said Hassan J. Saduzai, CEO and Co-founder of eZhire. " This achievement is a testament to the dedication of our team, the trust of our customers, and our ability to innovate in an industry that has traditionally been slow to evolve. We’ve worked hard to eliminate the common pain points of car rentals, such as deposits and lengthy paperwork, to create a seamless, digital-first experience that puts the customer at the heart of everything we do. As we continue to expand across the Middle East, we remain committed to making car rentals more accessible, convenient, and flexible for everyone."

In addition to its rapid growth, eZhire has significantly expanded its Total Addressable Market (TAM) by tapping into new user segments and creating new demand. The company’s tech-enabled operational efficiency, acceptance of debit cards without deposits, and fully digital process have made car rentals more accessible than ever before.

Key Milestones

Since its launch, eZhire has achieved significant milestones:

2017: Seed funding and expansion to Sharjah and Abu Dhabi

2020: Navigating through the COVID-19 pandemic with continued growth

2021: Expansion into Qatar and Bahrain

2022: Launch of the first Dispatch Center

2023: Launch of Saudi Arabia operations and introduction of a subscription model

2024: Became the largest B2C car rental service for residents in the UAE

Looking ahead, eZhire aims to further solidify its position as a key player in the region’s mobility space, with plans to continue its upward trajectory of growth across the Middle East.

For more information on eZhire and its services, please visit www.eZhire.ae or download the app available on iOS and Android.