French transport fare comparison startup Eurecab has raised €700,000 from angel investors as well as existing business investors. The startup’s app is known to enable people to compare the fares of private drivers and taxis. The Paris-based startup was founded in 2015.
Eurecab’s app was launched in 2017 and has generated a base of 50,000 customers and more than 500 active drivers. Moreover, the app is available in cities all over France, including Marseille, Toulouse, Strasbourg, Bordeaux, Nice, Nantes, Lille, Lyon and Paris.
How does the app work?
The app performs the task of comparing all partner platforms including Uber, Marcel, SnapCar, LeCab, Felix, and Citybird, as well as taxis, in order to allow users to choose the most economical alternative.
Eurecab’s app features a loyalty system in which customers can opt to find their favourite driver on their own. On the other side, drivers have the freedom to choose their own fares, routes and schedules.
Using the app, users can see the expected time of arrival of a car from the start. The users also have the option of blacklisting a driver, using which the user can make sure that the particular driver does not ever appear again in the user’s search results. Regarding the case of good drivers, users can give five-star ratings to a driver, which will further make that driver the user’s “favourite”, thus making the driver appear on the top of the list in all the future searches.
Where will the new funding get utilised?
The new funding will assist EuroCab to speed-up its growth, enhance its app, create new partnerships and expand marketing strategies. Regarding the funding, Theodore Monzies, founder of Eurecab stated, “This fundraising should allow us to accelerate our development in the immediate booking segment, expand our portfolio of offers, and offer the best drivers at the best price for all types of trips.”
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