The Hague, Netherlands-based MobiFi, a next-gen Mobility-as-a-Service platform that aims to tackle urban challenges, announced that it has raised fresh capital of $2.8M (approx €2.36M) from an Initial Coin Offering (ICO).
An ICO or initial coin offering is a type of funding using cryptocurrencies. It is often a form of crowdfunding. However, a private ICO which does not seek public investment is also possible.
Capital utilisation
The proceeds from this round will help to bootstrap the mobility platform to be built around two blockchains, Ethereum and Corda, to begin with.
Additionally, the funds will also help MobiFi to roll out product experiments in the Netherlands by testing two proofs of concepts on sustainable mobility by the year-end, and hire more employees in the coming months.
What does MobiFi offer?
Untill now, MaaS platforms do not offer a secure way for companies to join them as they fear losing their customers’ data to competitors. To solve this issue, MobiFi offers a decentralised platform powered by Distributed Ledger Technology (DLT) where mobility providers will be able to collaborate with each other, permitting data sharing and access.
Combining blockchain technology, DeFi (Decentralised finance), and tokenisation, MobiFi’s decentralised and sustainable mobility platform integrates public and private operators and services (eg, e-scooter, ridesharing, EV charging, parking, bus, metro, etc.) into a single platform.
MobiFi believes that this will help companies streamline their operations and provide “a seamless transit experience” to their users. Companies can integrate into MobiFi’s platform at no cost just by sharing their API. MobiFi will be acting as a reseller of their services, just like Amazon sells different brands.
Additionally, MobiFi will let companies expand their customer reach to tap into the growing segment of crypto users, and will help service providers save up on their transaction and chargeback fees by removing unnecessary costs incurred on the middleman.
MobiFi’s future sustainability model
In order to help people adapt to eco-friendly travel modes, MobiFi is working on an incentive model.
The startup will launch a token payment system that will allow people to pay with digital currencies, while also being able to receive token rewards for utilising sustainable travel modes. For example, by booking an e-bike, taking public transports, or commuting at off-peak hours.
This way, MobiFi will fulfill its vision by creating a sustainable feedback loop to benefit individuals, the environment, and society as a whole.
Fintech Files Powered by AWS
In the new section Fintech Files, in collaboration with AWS, we are keeping tabs (pun intended) on the thriving fintech industry in the Benelux. Want to learn more about the benefits of the cloud, or talk to one of their experts? Visit AWS Startup Loft to register for the latest events, get free 1:1 support from AWS experts and discover more resources. Build and scale your (fintech) startup with $1,000 in AWS Activate credits, free tools, technical support and training to quickly get started with AWS. Learn more about AWS Startup Loft