Bangkok--24 Sep--Spark Communications
Easy Taxi, a leading mobile taxi app in Thailand, will use global funding received from a new round of investments to boost business operations in the country. The app, which can be used to order a cab at the click of a button, is targeting one million downloads in Thailand this year and the newly acquired funding will be used to boost brand awareness, develop business operations in the country, and recruit new drivers.
“In the past year we have built a strong base of quality drivers and passengers, both of which contributed to 40% monthly growth in the amount of rides we have served the good people of Bangkok. The additional funding will enable us to continue working towards our mission of making the traditional taxi industry function in a much more convenient and safe way. We will invest to scale our operations, double the rate of driver acquisition, triple the amount of passengers, and most importantly to continue to deliver excellent service to both drivers and passengers who rely on Easy Taxi as their preferred method of connecting,” said Nattapak (Nat) Atichartakarn, CEO, Easy Taxi Thailand.
Easy Taxi, which also operates in Latin America, Africa, Middle East and Asia, secured USD 40m in Series D funding led by the Russian Phenomen Ventures with participation of Tengelmann Ventures, the investment company of Germany’s multi-sector retailer Tengelmann Group. The confidence new investors put into the world’s farthest-reaching taxi app is a testament to Easy Taxi’s successful expansion during the past year and its leadership position across multiple markets.
Dennis Wang, co-CEO at Easy Taxi: “We are very proud to have secured this new round of funding, which will allow us to continue our growth trajectory in existing markets, advance our technology, scale our operations and improve our service towards more audiences and geographies. In particular, the expertise of our new investors aligns with our ambition to further increase our market share in Asia and consolidate our leadership in Latin America.”