What is Invygo?
Founded in 2018 and headquartered in Dubai, United Arab Emirates, Invygo operates as a pioneering car subscription application. The platform allows users to pay for a car on a monthly basis, offering the flexibility to return or upgrade their vehicle at any time without incurring penalties. This innovative model addresses evolving consumer preferences for flexible mobility solutions, positioning Invygo as a key player in the burgeoning car-as-a-service sector.
How much funding has Invygo raised?
Invygo has raised a total of $12.9M across 3 funding rounds:
Other Financing Round
$1M
Other Financing Round
$1.9M
Series A
$10M
Other Financing Round (2020): $1M with participation from Class 5 Global, EQ2 Ventures, and 500.com
Other Financing Round (2021): $1.9M led by Signal Peak Ventures, The JS Group, and Wealth Well
Series A (2022): $10M supported by AlRajhi Partners, Arab Bank, Amana Capital, and Middle East Venture Partners
Key Investors in Invygo
AlRajhi Partners
AlRajhi Partners is a multi-asset class investment firm focused on long-term value creation across public and private markets, with a history dating back to the 1950s. They invest patient capital in diverse portfolios including private equity and venture capital.
Arab Bank
Arab Bank Plc is a commercial banking services provider operating across corporate, institutional, and consumer banking segments. Founded in 1930, it offers a wide range of financial services and financing solutions.
Middle East Venture Partners
Middle East Venture Partners (MEVP) is a venture capital firm that provides early and growth-stage funding to technology startups, with a focus on fostering innovation in sectors like e-commerce, mobility, and SaaS.
What's next for Invygo?
The substantial enterprise-level funding Invygo has garnered, particularly the recent strategic investment, signals a strong confidence from its backers in the company's growth trajectory. This capital infusion is expected to fuel further expansion, enhance technological capabilities, and potentially broaden its service offerings within the Middle East and beyond. The company's focus on a flexible, subscription-based model aligns with broader market trends towards usage-based consumption, positioning Invygo for continued scaling and market penetration.
See full Invygo company page
