We are glad to announce that our portfolio start-up Jumpin Rides just raised R1.8 million with various local and international business angels.
Founded late 2016 within Far Ventures by Pauline du Paty, Romain Diaz and Antoine Paillusseau, Jumpin Rides aims to provide a new transport solution for South Africans, by connecting drivers with spare seats to passengers going the same way and willing to contribute towards petrol costs. This is a win-win solution for drivers who save on petrol, and passengers who can travel for 80% cheaper than alternatives such as Uber and Taxify.
Far Ventures invested the first capital along with its management team to build the product and intitial traction for its carpooling platform.
Today, Jumpin Rides has more than 10,000 users, of which approximately 25% are drivers and 75% are passengers. Rides booked through the platform are equally spread between short distances (<50km), mid-distances (50km to 200km) and long distances (>200km), which proves that the company responds to a large need in the market.
“We are thrilled to welcome seasoned entrepreneurs and investors on board to support us in our vision. This round of funding is a validation of our approach and of the market opportunity we are tackling. We look forward to taking Jumpin Rides to the next level by investing these funds into launching mobile apps, online and offline marketing, and starting to look at other African markets which are in need a peer-to-peer ride sharing solution such as Jumpin Rides”, says Co-Founder & Managing Director Pauline du Paty.
Congratulations to all the team and to Pauline in particular for her drive and insatiable tenacity in building the blocks of what we hope will become a success story and provide a sustainable alternative for mobility in Africa.