Mayank Bindal (Snap-E Cabs)
Overview
Mayank Bindal is the co-founder and CEO of Snap-E Cabs, an innovative electric vehicle (EV) ride-hailing service based in Kolkata, India. He has significantly contributed to the sustainable transportation industry by promoting electric mobility solutions through Snap-E Cabs. Founded in 2022 alongside Mahendra Bindal and Jaydip Mukherjee, Snap-E Cabs has rapidly transformed into a notable name in the EV space, emphasizing clean, efficient, and affordable travel options. Mayank's vision for Snap-E Cabs aligns with India’s broader goal of achieving substantial electric vehicle penetration, pushing the boundaries of conventional ride-hailing services by adopting an entirely electric fleet.
Recent Developments
In recent years, Snap-E Cabs, under Mayank Bindal’s leadership, has seen several key developments:
- January 2025: Snap-E Cabs achieved EBITDA profitability, marking a significant milestone as the company expanded to over 1,100 electric vehicles in its fleet. This growth has translated into more than 1.2 million paying users and over 1.3 million app downloads, with the service completing 3.2 million rides.
- Mid-2025: The company expanded its operations into the Delhi NCR area, deploying 200 electric cabs as part of a strategic partnership with ride-hailing platform Rapido, enhancing its reach and operational footprint.
- September 2025: Snap-E Cabs secured $2.5 million in a bridge round led by Inflection Point Ventures. This funding is earmarked for expanding operations, leasing more EVs, and product enhancements. The round included participation from various investors such as Ah Ventures.
- 2025 Presence: As of September, Snap-E Cabs operates around 1,112 EV cabs, with plans to increase this number significantly in the coming years. Part of their strategic growth includes scaling operations and infrastructure to support a target of 5,000 EVs across multiple cities within two years, aligning with India’s electric mobility goals.
Personal Information
| Attribute | Information |
|---|---|
| Full Name | Mayank Bindal |
| Born | [Not Publicly Available] |
| Nationality | Indian |
| Occupation | Co-Founder & CEO of Snap-E Cabs |
| Known For | Electric Vehicle Mobility Initiatives |
| Net Worth | [Not Publicly Available] |
| Education | Master’s degree in Finance from the University of Glasgow |
Early Life and Education
Mayank Bindal's early life details are not extensively documented; however, he pursued higher education in finance, obtaining a master’s degree from the University of Glasgow. His academic background in finance likely equipped him with the necessary skills to navigate the complexities of starting and scaling a business in the competitive ride-hailing and electric vehicle sector. Before founding Snap-E Cabs, Mayank amassed significant experience working in the telecom industry, especially with Steelman Telecom Ltd, which provided him with insights into operations and market dynamics crucial for his entrepreneurial journey.
Career and Notable Achievements
Mayank Bindal's career trajectory is marked by his transition from the telecom sector to the electric vehicle industry.
- Telecom Industry Experience: Prior to co-founding Snap-E Cabs, Mayank worked extensively in the telecom sector, accruing over 15 years of experience. This period honed his skills in operations and strategy, laying the groundwork for his entrepreneurial ventures.
- Founding Snap-E Cabs (2022): Along with Mahendra Bindal and Jaydip Mukherjee, Mayank launched Snap-E Cabs in 2022 as a pioneering electric mobility service aimed at transforming urban transportation in India. The company's innovative approach combines sustainable mobility with technological advancements to offer efficient ride-hailing services.
- Scaling Snap-E Cabs: Under Mayank’s leadership, the company quickly scaled its operations, focusing on sustainability and impactful entrepreneurship by ensuring profitability while expanding its fleet and infrastructural capabilities.
Current Work and Impact
Currently, Mayank Bindal is actively engaged in expanding Snap-E Cabs’ operations beyond Kolkata, aiming to establish a significant footprint in the Delhi NCR region and beyond. His efforts focus on scaling the company’s electric vehicle fleet and charging infrastructure to meet increasing demand for eco-friendly transportation solutions. The company's growth strategy involves extending its services to new cities and increasing the number of EVs under its management, positioning Snap-E Cabs as a leader in the Indian EV ride-hailing market.
Conclusion
Mayank Bindal’s innovative vision and strategic leadership with Snap-E Cabs underscore his commitment to fostering sustainable transportation solutions in India. By efficiently integrating electric vehicles into the ride-hailing industry, he is contributing to reducing the carbon footprint and promoting environmental awareness. As Mayank continues to drive Snap-E Cabs forward, his work not only addresses current mobility challenges but also sets a foundation for future advancements in the clean transportation sector, potentially influencing broader adoption of electric vehicles across the country.