Denis Opudo
Reliability, affordability, and safety are key factors for success in the taxi market. Many companies have recently engaged in the taxi business all over Africa. Some of this companies are either locally based or are from the outside world. What makes the local taxis to be outplayed by those from outside is the ability to sustain the market pressure. However, many organizations and investors have come in to fund the local companies.
Mondo Ride, a leading African ride has managed to source for seed funding of $2 million. Moreover, that brings their seed investment to $5 million. This is after the closure of their second financing round in 2018. The startup uses mobile app platform to serve their customers. Mondo Ride will use the funds to expand its services to various parts of Africa. It also plans to use part of the funding to invest in its technology platform. Moreover, the latest funding came from investors from Egypt and UAE.
Mondo Ride will increase its number of rides during busy hours. It will also cater for active people across the upcoming African cities. Moreover, it plans to launch up in six new cities within Africa before the end of 2018. Many investors showed interest to invest in the startup in the Series A round planned for the first half of 2018. Founder and Chairman of iSON Group recognized that Mondo Ride is walking the talk in Africa.
iSON partnered with the taxi-hailing company to have the best taxi company in Africa. Currently, Mondo Ride operates in more than 25 African countries after its launch in 2016. iSON also helps it in strategizing in key issues within the market apart from the capital. The platform is now one of the largest taxi companies in Kenya. Moreover, it has realized double revenue collections every month. To sum up, the company has more than 6,000 drivers across Africa, and that proves the reliability of the platform.
