One of Driverly's investors, Mehdi Saravani, explains what made him put his trust in Driverly and why he believes it to be a smart investment decision.
Hi Mehdi, tell us a bit about yourself..
I’m Mehdi Saravani, an Executive Director at Goldman Sachs. Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base. I joined Goldman Sachs in 2019 and prior to this I gained an educational background in engineering and science, with a PhD in Theoretical Physics.
You were one of Driverly's very first investors. What made you decide to invest in Driverly?
What most attracted me to Driverly was its bold, business idea and its founding team members. The use of data and technology through an easily accessible app is a very different approach to what's currently on offer in the car insurance market. Also, I personally know Driverly’s founding members, Armin Kia, Mohammad Alinia and Néstor Alonso, each one an expert in their respective fields. The fact that they gathered and believed in this idea, gave me confidence that they can deliver on this bold idea.
How is Driverly different to other insurtech’s and fintech's?
I’m impressed by Driverly’s focus on data and technology. Their extensive use of telematics data through the Driverly app, and their plan to offer flexible monthly policies, offer a very different approach to car insurance. Also, they have built a very strong team behind the scenes, combined with great insurance experience and technical expertise at the most senior level. As I said, I’ve known the co-founders for a very long time and have full trust that they will achieve exactly what they set out to do.
Have Driverly delivered on their initial promises?
The short answer is yes. The co-founders have been clear from the outset that this is a very long game, but they have managed to meet important milestones every quarter. For me, the biggest milestone was getting the FCA permissions. Also, it was great to see that gamification is working and the users are engaged with the app.
Any words to the new prospective investors?
Go for it! I have trusted this team with my money, and I believe you can too. They are a very competent team of professionals with an excellent idea. I believe we can expect great things from Driverly in the next few years.