NakRide

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Nowadays, the concept of Sharing Economy is widely adopted by startups in Malaysia. While p2p (peer-to-peer) car-sharing platforms are not new to us anymore, the team of KLezcar introduced Nakride, a P2P Motorbike Sharing Platform in 2018.

“I am an Electrical Engineer by profession. However, I always wanted to run my own business. At first, I opened a photocopy shop in Uniten. One day, I met the founder of KLezcar. He motivated me to join the car-renting business. One thing leads to another. Eventually, we started NakRide together,” shared by Farhan Salleh, the CEO and co-founder of NakRide.

The team of NakRide believes that in urban areas such as Klang Valley, motorbike is a solution for people to reach their destinations in a much shorter time during traffic congestions. While in rural areas where transportation infrastructures are not fully developed, motorbikes can help visitors or tourists to travel conveniently.

Customers can rent motorbikes for short to long periods, generally ranging from a few hours to a few weeks. Furthermore, there’s a variety of motorbike selections in multiple locations, which gives customers more flexibility.

“As a p2p platform, we connect owners with under-utilised motorbikes to responsible renters. This is an opportunity for bike owners to earn some extra income to cover up the bike’s monthly installment, maintenance costs, insurance, and road tax.”

Nakride monetises the business by taking a cut of the rental fees. As an online rental service provider, for every rental fee charged to the customer, the bike owners get 70% of the transaction, while the rest goes to Nakride.

Like other car-renting platforms, the interface of NakRide is very simple and straightforward. Users just need to choose their renting date, time, and the desired pickup point, the website will instantly show a list of available motorbikes and prices.

“Of course, users need to submit their identification documents and valid driving license for our backend verification before they can start booking vehicles with us,” Farhan shared about the security precautions of the platform.

Once a user is verified, he/she can start booking a motorbike with NakRide from the available locations. NakRide is now operating in several locations within Klang Valley, Pulau Pinang, and Kelantan. When a user successfully booked a motorbike, he/she will be given a lock code to unlock the designated lockbox to get the vehicle key.

“As we’re a P2P platform, we try to protect the interest of both owners and customers. Before a user starts riding a bike, he or she must take five photos of the bike from different angles and a selfie with the car plate. This procedure is to avoid misunderstandings and irresponsible usages. If a user rides recklessly and has caused scratches or damages on the bike, he/she is liable to the cost of damages.”

If a bike is reported damaged or stolen and the customer doesn’t pay the penalties, Nakride will blacklist the customer in the system and also put their information into the CTOS system.

Currently, NakRide is enforcing the installation of a tracking system on the bikes so that the owners can track and monitor their bikes’ locations. However, the team is never satisfied. “To provide a smoother booking experience and to further protect the assets, we are developing an IoT device to integrate vehicles into our system. In the future, users are not only able to book the bikes through our mobile app, but can also start the bike engine via the app. Meanwhile, owners can know the real-time location of their bikes.”

Sharing bikes with random renters does expose the vehicles to more risks. Therefore, NakRide also partners with insurance companies to offer an exclusive insurance premium that covered for motorbike rental to protect the owners.

The platform started its operation with only three bikes but has grown progressively. “Many bike owners invite their friends to join NakRide. Now, we have over 80 bike owners renting out their bikes on our platform.”

NakRide believes that in the near future, bike-sharing will be a norm for people to move from point A to point B. The team has an ambitious goal of having a thousand bikes registered on the platform and becoming Malaysia’s biggest sharing economy for bikes in the next five years.

NakRide has joined ZOM-IN.com to collaborate in efforts to empower aspiring youths. Join us now at www.zom-in.com to participate in exciting events coming soon!