Prorata car founder Sanjeev Jain presents a fractional car ownership business where one can co-own their dream car with an 8.33% payment upon the cost of the car. The user needs to have a Prorata car app on their smartphone where they can choose their dream car. The person who chose the same car will connect in a group to co-own the car in the nearby place. Shark Peeyush and Anupam show confidence in his business. Let us look at the Prorata Car’s success story below.

Who Is Prorata Car Founder? Sanjeev Jain Career, Education, Success Journey, Age, Funding, How It Works, And More

Sanjeev Jain is Prorata car founder. He belongs to Bengaluru, Karnataka, India, and building the company since 2021. Sanjeev gets his schooling from Bihar. He moved to Bengaluru at the age of 16 years. Kishanganj, Bihar is his hometown. After leaving Bihar, he completed his Chartered Accountancy along with graduation from Calcutta University, Kolkata. After clearing his CA, he got his first job at RABS & CO where he worked for almost nine years.

He became a director at REBI East Infra Projects in 2009, working for the next four years. With his corporate experience of 12 years, he started his company IPX Consultants, which he closed in 3.7 years. Later, he started OZOPROP Technologies Pvt. Ltd. which provides good properties to the customers. However, COVID-19 led to the shutdown of his business. Prorata started in Oct 2021.

Prorata Car Founder Age

Prorata Car founder is approx 44 years old. He has worked on several projects throughout his life. Gaining a vast experience in his field makes him a trustworthy person. He never gives up on his dreams. Struggling from a young age, he builds his empire successfully. Following are details about the Prorata Car model and how it works.

Prorata Car How It Works

Prorata Car will work on the fractional ownership model. The company considers itself a tech company that works through its app. The user chooses the dream car they want. Thus, they convert the users with common interests to one group. They can co-own the car with 8.33% of the total car cost. Let us take an example for more clarity. Mahindra Thar comes for Rs. 18 lakhs. Thus, every year has 12 months. Similarly, every year has 12 tickets. 1 ticket is for one month.

If a user uses the Thar for 150 days in five years, there will be Rs. 1,000 per month of the payment. After the completion of the tenure, they will be able to sell their co-ownership of the car. They will get a share of the resale value. Apart from that, there will be a 15,000 annual maintenance contract. It will include insurance premiums, car pick and drop between co-owners, and LLP Services. They also have their community. You can join their group for Rs. 99 per month to get genuine and authentic updates. The company has a 30% margin as of now.

Prorata Car Funding

Prorata Car funding history includes Rs. 1 Crore of funding at an Idea Stage from Friends and Family. It had a valuation of Rs. 10 Crore Floor and Rs. 40 Crore Cap. Sanjeev has 90% of the equity with him and 10% is with his wife. However, the shark tank deal will dilute 10% of the equity further.

Proratacar Shark Tank Journey 

The Proratacar shark tank journey started with a little nervousness on the pitch. Sanjeev was feeling a little nervous. However, he gets back later. Presenting the pitch beautifully, the Prorata car founder asks for Rs. 1 Crore for 2% equity at Rs. 50 Crore valuation. Shark Namita got out of the deal. Later, Aman and Vineeta also get out of the deal. Prorata Car gets an offer of Rs. 50 Lakhs for 10% equity and Rs. 50 lakhs for the debt of 14% interest at Rs. 5 Crore valuation. Prorata Car accepts the deal from Anupam and Peyush later. The company is still at a pre-revenue stage. Keep reading with Charcha Times. Prorata Car is on Isntagram as @proratacar.