Jumpin Rides startup raises R1,8 million in funding
DURBAN - Cape Town-based ride-sharing startup Jumpin Rides has announced that they raised R1,8 million through various local and international investors.
The startup which was founded in 2016 by Pauline du Paty, Romain Diaz and Antoine Paillusseau aims to provide South African with a new way to commute. Jumpin Rides is a part of the Far Ventures Portfolio.
Jumpin Rides links drivers with spare seats to passengers that are going the same way and are ready to contribute to petrol costs.
Far Ventures invested the first capital in Jumpin Rides along with their management team to set up the product and the initial traction for the carpooling startup.
Currently, the ride-sharing platform has more than 10 000 users. Of that number, around 25% are drivers while 75% are passengers.
The Jumpin Rides website explains the process of using the ride-sharing platform. A user can go on to their site and offer a ride to fill spare seats or find a ride to get to your destination. Then the user can contact the driver or the driver and iron out all the details for the trip including price and destination. After you have carpooled, the person that you are travelling with can be rated.
Pauline du Paty, the co-founder and managing director of the said that they are thrilled to welcome experienced entrepreneurs and investors on board to support their vision.
She added that they are looking forward to taking the startup to the next level by investing the money into launching mobile apps as well as online and offline marketing.
Jumpin Rides is also looking into other African markets that are in need of peer-to-peer ride-sharing platforms like Jumpin Rides.
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