10 / 14Business Model · 11.8% take rate, scaling to subscription
Charge half. Scale on volume.
Migrate to subscription via co-ops.
11.8% effective take rate is the entry mode — competitive with Uber/Ola while still margin-positive. As co-ops mature, members collectively migrate their zones to flat ₹200/day subscription — locking in driver loyalty and turning revenue into ARR.
Per-driver unit economics · steady state
| Gross fares (driver gross) | ₹60,000 | /month |
| Platform commission (10%) | +₹6,000 | revenue |
| GST on commission (18%) | +₹1,080 | pass-through |
| Total platform revenue | ₹7,080 | 11.8% effective |
| Payment processing | −₹150 | |
| Cloud cost (allocated) | −₹95 | |
| Support cost (allocated) | −₹240 | |
| SOS center (allocated) | −₹65 | |
| GST filing (allocated) | −₹45 | |
| Contribution margin | ₹6,485 | 91.6% |
91.6% contribution margin per driver — among the highest in Indian consumer because we're a tech platform, not a fleet operator. Compare: Uber's ride-level contribution margin is ~52% after driver incentives.
LTV per driver
₹3.9L
60-month avg tenure × ₹6,485 contribution
Driver CAC
₹4,500
Field team + referral incentive + onboarding kit
LTV / CAC
86×
Co-op loyalty drives <1.5%/mo churn
Payback period
<1 month
First month of platform fees covers CAC
Take rate trajectory
11.8% → flat ₹200
Co-op migration locks in subscription ARR
5-year P&L projection · base case
Y1 · 2026
Drivers
10,000
Cities
3
GMV
₹72 Cr
Revenue
₹8.5 Cr
EBITDA
−₹6 Cr
Y2 · 2027
Drivers
40,000
Cities
6
GMV
₹288 Cr
Revenue
₹34 Cr
EBITDA
₹3 Cr
Y3 · 2028
Drivers
90,000
Cities
10
GMV
₹648 Cr
Revenue
₹76 Cr
EBITDA
₹22 Cr
Y4 · 2029
Drivers
160,000
Cities
14
GMV
₹1,150 Cr
Revenue
₹136 Cr
EBITDA
₹50 Cr
Y5 · 2030
Drivers
240,000
Cities
20
GMV
₹1,728 Cr
Revenue
₹204 Cr
EBITDA
₹82 Cr
| Year | Drivers | Cities | GMV | Revenue | EBITDA |
|---|---|---|---|---|---|
| Y1 · 2026 | 10,000 | 3 | ₹72 Cr | ₹8.5 Cr | −₹6 Cr |
| Y2 · 2027 | 40,000 | 6 | ₹288 Cr | ₹34 Cr | ₹3 Cr |
| Y3 · 2028 | 90,000 | 10 | ₹648 Cr | ₹76 Cr | ₹22 Cr |
| Y4 · 2029 | 160,000 | 14 | ₹1,150 Cr | ₹136 Cr | ₹50 Cr |
| Y5 · 2030 | 240,000 | 20 | ₹1,728 Cr | ₹204 Cr | ₹82 Cr |
Take rate ~11.8% in Y1, blending toward 11–12% as co-ops migrate to subscription. Driver churn modeled at 1.5%/mo (co-op loyalty). EBITDA breakeven Y2.
11.8%
Take rate today
10% + GST
91.6%
Contribution margin
Per driver, post-allocation
86×
LTV / CAC
<1 month payback
₹204 Cr
Y5 ARR
240K driver-members