Homegrown car-sharing service Tribecar announced today (October 31) that its owners have acquired car rental company, Popular Rent a Car.
Following the acquisition, Tribecar’s range of services will be widened to a new group of users, and bring in an additional 400 cars to the group.
The acquisition is an extension of Tribecar’s mission to serve its customers better and expand its offerings to a larger group of audience since acquiring Car Club earlier in March this year.
Tribecar’s car sharing fleet will be joined by WhizzCar
WhizzCar, one of the pioneers in the local car-sharing industry serviced under Popular Rent a Car, will also be part of Tribecar’s car-sharing fleet of over 1,300 vehicles as they continue to serve their existing customers.
Members of WhizzCar and Tribecar will get access to an increased array of transport options and booking locations through this acquisition.
WhizzCar members can also look forward to various Tribecar’s existing products and services, including TribeTravels, which offers discounts for attraction tickets when bundled with a vehicle rental, subscription plans, and season passes, among others.
Members of WhizzCar will have access to all services under Tribecar’s platform by mid-November 2022.
Expanding Tribecar’s local footprint and product portfolio
According to Adrian Lee, the co-founder of Tribecar, the company has been expanding its local footprint and product portfolio with great success over the past few years.
In continuation of this, the acquisition of Popular Rent a Car paved the way for us to enter a new market
space of car rental and sharing, bringing it to major corporate clients, including statutory boards.
Tribecar’s corporate leasing arm is expected to grow the business and eventually contribute to 20 to 30 per cent of our overall business revenue.Adrian Lee, co-founder of Tribecar
He added that as Tribecar looks to expand beyond its current market, it wants to ensure that it can leverage its team’s innovation and knowledge of car-sharing technology, combined with Popular Rent a Car’s focus on delivering quality service and customer satisfaction.
Meanwhile, KK Ho, the managing director of Popular Rent a Car, said that the partnership will allow both companies to thrive, grow, and achieve their goals to deliver enhanced value to its customers while amassing new ones.
[The partnership] will also greatly impact the mobility options in Singapore, contributing to a car-
I am eager to join the board as an advisor to continue expanding the platform and further developing it for the next generation of users.KK Ho, Managing Director of Popular Rent a Car
Tribecar’s previous acquisition of Singapore’s first car-sharing operator, Car Club, was dubbed as the “biggest buyout in the local car-sharing scene”.
The acquisition of Car Club gave access to Tribecar and Car Club members to a fleet of over 1,400 vehicles islandwide.
Featured Image Credit: Tribecar