scorecardresearch

MetroRide inducts Omesh Sharma as Consultant CFO

Sharma has rich experience in raising debt and equity capital, along with filing of IPOs and reverse IPOs.

MetroRide inducts Omesh Sharma as Consultant CFO

Bangalore-headquartered mobility tech platform MetroRide has appointed Omesh Sharma as Consultant Chief Financial Officer (CFO).

The company says the strategic addition to the leadership team is a critical part of its growth strategy.

Sharma has rich experience in raising debt and equity capital, along with filing of IPOs and reverse IPOs.

Girish Nagpal, CEO and Co-Founder, MetroRide said, “We are excited to have Omesh Sharma as a part of our management team. We are confident he will contribute immensely for MetroRide’s next phase of growth. We will be relying on Omesh’s expertise in supporting our aggressive plans as we launch our operations across the country & in the US.”

Kaaman Agarwal, CTO and Co-Founder, MetroRide said, “I am glad Omesh joined us and I look forward to working together to building a robust team as we scale in India and globally. His financial acumen as well as global exposure adds great value to the core team.”

Omesh Sharma, Consultant, CFO, MetroRide said, “Metroride is one of the most exciting companies in the mobility space and I am thrilled to join the team and look forward to ride the crest with them. I am confident of striking strategic alliances with financial institutions in our quest for development.”

The mobility start-up claims to be the first all-electric ride hailing platform in the country which promotes public transport. This multi-modal platform makes public transport accessible by solving first and last-mile connectivity issues and making customers’ end-to-end journeys seamless.

The start-up collaborates with public transit agencies like metro and suburban trains by bringing multimodal ticketing on the same app. Its focus is on making public transport accessible to common people. The mobility-as-a-service market size was valued at $128 billion in 2021, and it is projected to grow at a CAGR of 16.8% during 2021–2030 as per the P&S Intelligence Report.

In India alone, over 800 crore rides are completed by daily commuters on metro and suburban trains every year. MetroRide is focused on catering to these customers for whom affordability and minimal wait times are the two most critical needs as per the consumer survey done by the company. The start-up claims it has reduced commuter waiting time by over 80% and average ride tariff by over 50% compared to the industry averages. The company is backed by leading angel investors from Silicon Valley & India; has a collaboration with WRI & is supported by UK Charity Shell Foundation.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.