New Investment Enhances BusCaro’s Mission to Offer Safer and Affordable Daily Commutes
Pakistan-based startup BusCaro has secured $1.5 million in pre-seed funding, led by Orbit Startups, the program for startups in emerging markets by SOSV. This investment will further empower BusCaro to address the urgent need for safer transportation options, especially for women, in Pakistan.
Key Takeaway
BusCaro, a Pakistan-based startup, has raised
.5 million in funding to provide safer and more reliable transportation options, particularly for women. The company aims to address the dire state of commuting in Pakistan and offers a B2B2C model where universities and factories partner with BusCaro to provide transportation for their students and employees. With a focus on rider safety, the app features driver background checks, vehicle inspections, and a live-tracking feature. BusCaro is currently operating in Karachi, Lahore, and Islamabad and is on track to become profitable by early 2024.
Addressing the Dire State of Commuting in Pakistan
In Pakistan, the state of commuting is a dire problem, especially for women. Maha Shazhad, the founder of BusCaro, experienced firsthand the struggles faced by working women who encounter sexual harassment on public transport. Recognizing the need for a safer and reliable alternative, she established BusCaro to provide commuters with a viable solution.
A Safer and More Efficient Commute
BusCaro stands out from other ride-sharing apps by adopting a unique B2B2C model. By partnering with universities and factories, BusCaro ensures reliable transportation for students and employees. This approach allows the company to match demand with supply, increasing operator incomes while keeping costs affordable for commuters.
Rider safety is a top priority for BusCaro. The app incorporates features such as driver background checks, vehicle inspections, tracking, and a dedicated emergency response team. For additional safety measures, the app allows women to use masked names instead of their real names when interacting with drivers. BusCaro is also developing a panic/SOS button that will connect passengers directly with the company and its safety partner, security agency Mohafiz.
Expanding Operations and Achieving Profitability
Since its launch in 2022, BusCaro has expanded its operations to major cities in Pakistan, including Karachi, Lahore, and Islamabad. With a fleet of over 300 vehicles and more than 20,000 daily bookings, the startup is making significant strides in meeting the transportation needs of the population. BusCaro expects to achieve profitability by early 2024 after reaching $2.5 million in revenue.
Providing Safe and Affordable Commuting Options
BusCaro aims to address the lack of safe and affordable transportation options in Pakistan. Many commuters, especially women, spend a significant portion of their income on daily commutes and struggle to find safer alternatives. BusCaro not only caters to individuals with limited financial resources but also targets office workers seeking a cost-effective alternative to driving to work in the face of rising fuel prices and parking difficulties.
Competition and Future Plans
BusCaro faces competition from various ride-hailing platforms and public transportation options. While other ride-hailing services in Pakistan may offer slightly lower costs, BusCaro sets itself apart with its comprehensive security measures. Public transportation in the country is deemed insufficient and unsafe, pushing many commuters to seek alternative options like BusCaro if available.
Looking ahead, BusCaro plans to expand its B2B2C partnerships and forge more B2C collaborations. Additionally, the startup aims to work with the public sector on initiatives such as transportation subsidies, carbon emissions reduction, SaaS solutions, and government transportation contracts. As part of its sustainability efforts, BusCaro is also considering incorporating electric vehicles into its fleet to mitigate rising fuel costs.
The recent funding secured by BusCaro reflects the recognition of its mission to provide safe, inexpensive, and efficient shared transport for both women and men in Pakistan. By offering a reliable and affordable daily commute option, BusCaro aims to contribute to the overall growth and development of the economy.
