Pitstop To Invest $1 Mn in Singapore Operations

Pitstop, India’s first independent doorstep car services provider has formed a joint venture with Goldbell Group of Singapore to launch an end to end platform for management of service and repair of vehicles in Singapore. Pitstop will invest $ one million to expand operations in Singapore aimed at wider adoption among end customers and fleets by Q1 FY19.

“It is a proud moment for all of us. Technology knows no boundary. The vision is to enable convenient, transparent and trustworthy service and repair of automobiles in Singapore using our technology platform, similar to what we have been executing in India. Goldbell has an immense ground operations’ experience with strong foothold in South East Asia. Complementing this is Pitstop‘s technological expertise. The association is strategic and advantageous for both parties. This opportunity also allows Pitstop a ground to make the platform more powerful with real time service and repair experience at scale.” said, Mihir Mohan, Founder & CEO of Pitstop.

Headquartered in Singapore, Goldbell Group is the market leader in Industrial vehicles and has operations in Malaysia, Vietnam. The Group employs more than 800 employees worldwide. Singapore operations of Pitstop have been launched with Goldbell Car Rental, a subsidiary of Goldbell Group.

Pitstop is the first automobile services company to spread its wings beyond India. Within a quarter of its Singapore launch, the company plans to expand its offerings to multiple fleets and end customers. By 2020, the company also plans expansion to Malaysia, Vietnam, through the JV, where Goldbell has strong foothold.

“Pitstop will provide an end-to-end tech platform for Goldbell Car Rental, to manage service and repair of an approximate 1500 vehicles with a maximum of 50 workshops across Singapore when it is fully implemented. Currently, in Singapore, 5 workshops are using it. On day 1 of our launch, we have a significant advantage of scale that makes us confident about our successful future in Singapore.” Mihir added.

Since its inception in 2015, Pitstop has raised two rounds of funding worth $2.9 million from Blume Ventures and Goldbell Group. The company is serving nearly 5000 orders per month and has achieved a monthly top line of Rs 3 crores.

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