LAHORE, PAKISTAN / ACCESSWIRE / September 7, 2024 / Torque360 is thrilled to announce its victory in the Google Cloud Startup Competition 2024, securing the top spot in the Fintech category. This prestigious award highlights Torque360's role as a leader in Pakistan's startup landscape and its commitment to transforming the auto repair industry with innovative technology.
The competition seeks startups that excel in product strength, market differentiation, traction and growth potential, and team strength. Winning this competition underscores Torque360's commitment to revolutionizing the auto repair industry with advanced technological solutions.
Since its launch, Torque360 has seen significant growth, including a 20% monthly increase in revenue, a tenfold expansion in its customer base, and a 37% increase in team size since 2023. The company has also onboarded one of the largest auto repair chains with 150 stores, demonstrating the effectiveness of its solutions.
Previously, Torque360 graduated from top North American accelerators like Techstars and 500 Global, gaining recognition for its innovative approach. Winning the Google Cloud Startup Competition 2024 further showcases the potential of Pakistani startups on a global stage.
Torque360 is revolutionizing the auto repair market with features that boost shop revenues. The invoice feature ensures quick and accurate billing, enhancing the payment process for both customers and shops. Additionally, the Technician Portal feature improves job management by providing technicians with all the information they need in one place, making their workflow more efficient.These advanced features make Torque360 the leading software in the auto repair industry.
Torque360's platform not only helps auto repair shops manage their operations but also significantly enhances their financial transactions, solidifying its position as a game changer in the Fintech space within the auto repair industry. According to recent industry reports, the automotive fintech market was valued at USD 47.2 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.1%, reaching nearly USD 94.74 billion by 2029, driven by innovations in digital payments, financing solutions, and AI-driven financial management tools.
Looking ahead, Torque360 aims to leverage AI to drive future advancements in the automotive industry. As the global AI market is expected to reach $407 billion by 2027, Torque360 is positioned to lead in integrating AI into its solutions, pushing the boundaries of innovation.
For more information about the award-winning platform and future developments, visit Torque360.
About Torque360:
Torque360 is a leading innovator in auto repair management, offering a platform that helps shops increase revenue and streamline operations. As a prominent Pakistani startup, Torque360 is dedicated to delivering high-quality, affordable solutions and driving industry innovation.
Person name: Bill Thomas
Phone: +1 (917) 920-6645
Email: b.thomas@torque360.org
Website: https://www.torque360.co
SOURCE: Torque360
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