Switching to Alaan helped invygo get AED 100,000 in cashback and supercharge their bottom line.
Established in 2018 and headquartered in Dubai, invygo exists to make car ownership financially inclusive and hassle-free. Designed to solve financial inclusion and mobility challenges in the MENA region, invygo is creating alternative pathways to vehicle ownership and new economic opportunities through flexible car subscriptions. As the first of its kind car subscription app in the region, the company accredits its success to its philosophy of keeping the customer first.
The $3.1 billion global car subscription market is experiencing rapid growth and is expected to reach US$ 9.8 billion by 2027. After raising an industry leading series A round, invygo anticipates exponential annual business growth. As expected, this would require every internal team to function at peak efficiency to reach this ambitious goal - this meant eradicating any avoidable time and money consuming processes.
A high growth period required better financial control mechanisms
While invygo experienced exponential growth over the last 3 years, they quickly realized the development of internal control mechanisms to manage its business spend would be essential to the overall efficiency of the business. There were significant investments in digital marketing and advertising, but the methods of tracking and monitoring this spend were manual and time-consuming.
An innovative, tech-driven spend management platform
As a tech company, the team has always believed in embedding innovation within its core processes, it makes sense why they decided to sign up with Alaan. The company started by giving out cards to relevant team members whose scope required the ability to make purchases while setting specific limits for each card. This gave management a level of control and comfort while empowering the organization to move fast.
By migrating advertising and software spend onto Alaan, invygo started saving in cash back immediately. Now, advertisement spending on twitter, Snapchat and Meta are all done on the Alaan card, earning a 2% cashback for no additional effort!
The company now knows where money is being spent in real-time and can analyze spending patterns at the click of a button.
Alaan's spend management platform also created efficiencies for employees as they no longer need to manually prepare claim forms or borrow petty cash.
Like the sound of invygo's story? Learn how getting spend visibility and finance automation could save time and money at your business; schedule a demo now!