Surprisingly, FENIX is the leading electric mobility operator in the Greater Middle East that aims to unleash urban potential and propel communities forward.
Though the UAE-based startup was launched in November 2020, it is making waves in five countries and 13 cities in the Greater Middle East.
Jaideep Dhanoa and IQ Sayed, former co-founders of Circ and colleagues at Careem, are the brains behind FENIX. It achieved the biggest pre-launch seed funding round in the history of UAE’s technology ecosystem, raising $5.1 (Dh18.73) million.
Soon, it entered the market with the largest fleet of electric vehicles in the region
What is MyFENIX?
FENIX is the first operator in the region to launch a private e-scooter subscription service called MyFENIX. It is a lease-to-own business model where users can avail their own e-scooters through weekly, monthly, quarterly, and yearly plans that include free maintenance, 24×7 customer care, as well as insurance, and free home delivery.
FENIX has now expanded its offerings with on-demand shared e-bikes to make micro-mobility more inclusive across consumer segments and price points.
Hundreds of thousands of riders have embraced MyFENIX. The company has launched the world’s first e-scooters with in-built hand sanitizer packs to ensure riders’ safety amid the Covid challenge. It has also launched a rapid 10-minute delivery service for groceries and essential products.
What is FENIX Pay?
FENIX Pay is an inclusive payments service for the region that offers riders various payment options via credit cards, debit cards, mobile/telco credit, Apple Pay, and local e-wallets.
Besides, the start-up also eliminated the UNLOCK fees on all FENIX rides across the region on the occasion of its first anniversary in November last year.
Sayed, who is also the chief technology officer (CTO) of FENIX, told Khaleej Times how they hit upon the concept of FENIX. “During the onset of the Covid-19 pandemic in 2020, we saw a rapid growth in the micro-mobility segment globally. Millions of riders embraced micro-mobility to safely travel and explore their cities.
Earlier, we’ve had experience in the mobility sector in the Middle East and strongly felt there was an urgent gap that FENIX could plug.
Micro mobility has an important role to play in transforming the way cities move, and igniting impactful commerce by making mobility easier, cheaper, and quite simply redesigned. The global society is in constant motion and there has been a fundamental shift to building cities for people. It doesn’t require more cars and roads, but more innovation and free navigation.
“By connecting journeys through affordable and convenient means, we create a more productive and inclusive economy while keeping the environmental footprint low. And we’ve built it as a platform, so we can extend our impact beyond mobility, said Sayed.
At FENIX, we stand up for progress and participate in building a more inclusive, efficient, and enjoyable society, enabling cities and communities to unleash their potential,” he said.
Where is FENIX Pay operational?
FENIX Pay provides its users in all five operating countries — the UAE, Saudi Arabia, Qatar, Bahrain, and Turkey — with a range of payment choices, including prepaid mobile credit, local digital wallets, Apple Pay, credit cards, and debit cards.
“By integrating financial inclusion into our services, the startup can increase access to affordable mobility and convenient deliveries for users in the region. It is the only vertically integrated electric mobility and deliveries platform focused on the Greater Middle East region,” said Sayed.
“Besides, through its partnership with Apaya, FENIX will continue to integrate additional alternative payment channels with local providers for its users.”
With FENIX Pay, anyone with a smartphone in Turkey and the UAE can pay for its services. All they need is live integration with the two leading national telecom providers in the UAE — Etisalat and Du — and three leading telecom providers in Turkey — Turkcell, Vodafone, and Türk Telekom. It will also be launching with Mobily in Saudi and with Batelco in Bahrain later this quarter.
Consumers can top up their FENIX Pay balance through cash-based vouchers in the UAE, Saudi, Bahrain, Qatar, and Turkey. Users can simply approach a FENIX Associate in an operating area, or when receiving a delivery and purchase a voucher using cash, card on delivery or local digital wallet transfers including STC Pay in Saudi Arabia and Benefits Pay in Bahrain. “We plan to add support for local mass transit cards as well,” said Sayed.
There is a bid to serve underbanked customers as well. Data shows that about a third of retail transactions are conducted electronically, due to factors such as underdeveloped digital-payment infrastructure and services, underbanked consumer and merchant segments, and a cultural bias towards cash.
However, this percentage is set to grow over the next few years. FENIX Pay increases the payment options available to its users and enhances the overall consumer experience. Many people could want to use e-mobility and delivery services but haven’t been able to because they don’t have a credit card. Mobile payments in the region are failing these segments.
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