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Carsharing platform GetGo Technologies has introduced right now (February 23) a S$20 million funding from Treïs, a family-backed funding group.
Treïs’ funding will allow GetGo to speed up the expansion of its inexperienced automobile fleet to 10,000 by 2030. As of the tip of 2022, electrical autos (EVs) made up about 4 per cent of its fleet. The firm targets to extend this proportion to hit 15 per cent by the tip of this yr.
In addition to this, the corporate will utilise the funds to strengthen its know-how and operational platform, together with the GetGo app expertise, the accessibility of its community of places, in addition to the standard of its autos.
According to Toh Ting Feng, CEO and co-founder of GetGo, the funding will enable the carsharing platform to push in the direction of electrification and lengthen its know-how management. GetGo expects to develop its crew by round 50 per cent.
By 2030, it goals to serve over one million households in Singapore, significantly lowering the necessity for automotive possession and realising a big a part of Singapore’s Green Plan 2030.
Our mission is to allow the liberty to drive no matter every individual’s skill or need to personal a automotive. It is our perception that sustainable and environment friendly carsharing has a essential position to play within the Government’s imaginative and prescient of a inexperienced and car-lite society, which is very necessary in Singapore the place we’ve a world class public transportation system and the very best value of automotive possession on the planet.
Toh Ting Feng, CEO and co-founder of GetGo
Meanwhile, Jonathan Fein, the Asia Lead for sustainability investments for Treïs, shared that GetGo’s mission in shared and sustainable mobility resonates with Treïs’ ambition to assist develop options for useful resource environment friendly financial fashions.
GetGo is now touted as Singapore’s largest carsharing platform
GetGo was launched two years in the past on February 25, 2021, and now operates over 2,100 autos (near 100 of that are electrical autos) throughout 1,400 places.
In simply two years, the platform’s consumer base has grown 25 fold to over 250,000 customers, and it receives greater than 150,000 bookings every month.
With no deposit or membership charges, customers can simply and flexibly e book a automotive for as brief as an hour and so long as 5 days. The value of utilizing GetGo is solely primarily based on length and distance, with gasoline, upkeep and insurance coverage prices included.
The carsharing platform’s fleet of vehicles are sometimes used to take kids and the aged to actions, to exit with household and buddies, or to move cumbersome objects.
Featured Image Credit: GetGo
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