Zantrik, the Dhaka-based startup that provides on-demand services for car and motorcycles maintenance and connects car-owners with the service providers, has raised its first round of outside investment from an institutional investor in Dhaka, according to three people aware of the matter. The sources declined to give any details citing confidentiality. The company is expected to make a formal announcement by the end of this month.
With the new investment Zantrik is likely to invest in building its internal service delivery capability in order to improve the experience of its customers, further develop its platforms, and invest in further growth.
Zantrik originally started as an on-demand service platform for car and motorcycles repairing. It has introduced a much-talked subscription service called ‘roadside help’, which provides subscribers on-demand vehicle maintenance service including helping them if their vehicle malfunction in the middle of a journey. It has built a network of service providers throughout the country to ensure on-time service. It said that it has already thousands of customers using its services. While initially it was focused only on cars and motorcycles repairment, it has since expanded to a few other areas related to vehicle maintenance including motor insurance. To start with, users can download Zantrik app to avail its service.
Car ownership has been growing rapidly in Bangladesh. With the development of infrastructure, access to capital and economic growth, there is a huge growth potentiality in this space. At the same time, the service space for car owners remains a highly unstructured market, which offers a big opportunity to build a great business.
This is a developing story. We will update the story as soon as we get more information.