Providing more than parking solutions
After successful operations in the United States, Binu T Girija's way.com expanded the venture to India
Indian-origin entrepreneur Binu T Girija is the founder-CEO of Way.com, a US-based and Silicon Valley-incubated D2C (Direct-to-Consumer) marketplace that offers a complete suite of automotive services. Hailed as one of the biggest success stories in the US, the company was launched in 2015 with parking as its flagship offering. As the first super auto app, it has now grown into a full-fledged Insuretech/Fintech platform for all car-related services in the USA, such as monthly and hourly parking reservations, auto insurance, auto finance, car wash bookings, and roadside assistance. All of it comes with convenience and at a fair price, resulting in substantial customer savings.
“The reason I started Way.com was because there was a need in the marketplace for affordable car services. I also want to make car ownership affordable and convenient for everyone. We have emerged as the market leader. Our expertise can also be replicated in different geographies that continue to grapple with the nightmarish car parking problem,” says Binu. Another USP of the portal is that its business is a ‘platform play’ which allows it to scale much faster than its competitors. Also, by using more of Way.com’s car services, customers can build up their “loyalty points” and gain more economic benefits, thus inducing them to stay on the platform. By using best-in-class technology, it has overhauled many of the antiquated car services for improving the customer experience, and also attracted top talent from Google, Uber, eHarmony, and Big Fish Games.
In February 2022, the company launched Way+. This new membership facility brings together high-quality car services, including parking at 20,000 lots across the USA, 6,000+ car washes, the best auto refinance rates, and roadside assistance in one monthly offering, connecting customers with the best rates and offers in real-time. Way.com’s auto insurance vertical, launched in November 2020, achieved $60 million in annualized premiums in its first year in the market. It partners with over 180 insurance carriers and provides customers with the most competitive rates for auto, renters, motorcycle, and home insurance.
In India, the company started with a 5-member team in a 200 sq feet office space at Technopark phase 3 in 2019. From there, it transitioned into a 6,000 sq feet space in 2020 with 40 members and a 30,000 sq feet space in Phase 3 with a team of more than 300 employees in 2022 working in Thiruvananthapuram and Bengaluru locations. Binu, featured in 48th position in the world’s top 100 Marketplace by Bloomberg, says the super auto fintech app has so far helped seven million drivers across the US save money on everything from parking to gas to auto insurance. It is also helping thousands of EV owners find the nearest EV charging station and drive toward a greener future.
