Bob Eco
Hong Kong
About Bob Eco
Bob Eco is a green technology company that allows individuals in developing countries to lease electric motorcycles to taxi people around. Bobcoin, an asset-backed coin, is the first instance in the world of cryptonization by a for-profit social enterprise. The innovative model of the Bobcoin Program offers the best of both worlds – it combines the flexibility and freedom of a distributed blockchain-based asset with tangible real-life businesses. The fundamentals of Bob Eco started in 2017, when the founders began providing small loans to individuals across emerging markets. The founders went on a mission with a far-reaching impact. The idea was simple’use asset finance, technology, and a customer-centric model to help informal sector entrepreneurs dramatically increase their economic trajectory, thereby creating over 200,000 jobs. Bob Eco started to build a long-term ecosystem for micro-entrepreneurs to grow and thrive as their partner, from financing to value-added services to new opportunities. The social impact Bob Eco has had and continues to have is massive. The benefits of access to low interest asset financing include: 1 - Enabling entrepreneurs to start or expand micro, small, and medium-sized enterprises. 2 - Savings help families build assets; they can finance school fees, improve homes (e.g., install power or running water), and achieve goals. Bob Eco observed that over 94.3% of all loan requests were used for taxi vehicle financing, and therein lies the problem. Considering that millions of motorcycle taxis operate in African countries, with some driving up to 16 hours a day, often covering hundreds of kilometers daily, Bob Eco was helping to move people out of extreme poverty by majorly threatening human and environmental health. Bob Eco actively promoted a significant source of carbon emissions’ubiquitous fuel-powered motorcycles’and this CO2 spewing was a considerable obstacle. Bob Eco decided that it could no longer pollute the environment in this way. The day Bob Eco stopped providing credit for CO2-spewing taxis was a good day for electric transportation in emerging markets. Bob Eco changed this concept to make all the motorcycle taxis electric and now offers its electric vehicles to local people on a lease-to-own basis, meaning that they can own the Bob electric motorcycle after a maximum term of 36 months. Training, life and medical insurance, and high-quality safety gear are all included, and Bob's staff actively support clients to reach their ownership goals. Bob Eco offers users the world's first mass-market electric vehicle that costs less to acquire, maintain, and operate than a fuel vehicle. On average, motorcycle taxi riders spend USD 4.40 daily on fuel and make an average daily profit of only USD 1.50, which they take home to their families. Bob riders save around USD 4.40 on fuel a day, which means they earn almost four times as much as a petrol motorcycle taxi. All the income from Bobcoin sales is invested into electric vehicles, making Bob Eco the first crypto company to use cryptocurrency to solve real-life problems with tangible, high-class, technological products.
Company Facts
- Operating status: Active
- Company type: For Profit
- IPO status: Private
- Employees: 501 – 1,000
- Total funding: $120.0M
- Last round: Initial Coin Offering (ICO) (Jun 2022)
- Website: bob.eco
- Phone: [email protected]
Industries & Categories
Electric Vehicle, Finance, Manufacturing
Social Profiles
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