According to the latest news, Taxibeat has recently raised some $4 million from Hummingbird to be utilized to scale their ‘Marketplace’ Taxi App.
The iOS and Android taxi app known as Taxibeat, has received $4 million in funding from Hummingbird Ventures in an effort to grow their marketplace app. The app is designed to allow users to hail cabs from their phone.
Originally, Taxibeat had raised $3 million from private investors and with that money they have been expanding their services to include European cities. According to current statistics, the Taxibeat program is serving $40 million in taxi transactions each year and has been growing at a rate of 18% each month.
Just how is the Taxibeat app different to other taxi hailing apps? Unlike many other apps this one allows users to choose their driver based on the driver they prefer, ratings from other customers and other preferences. Something else that sets the Taxibeat app apart from competing apps is that individual drivers can set up full profiles allowing potential customers to get to know them and their qualifications and to encourage repeat business. In return for this full profile feature, drivers simply pay a small fee to the Taxibeat app for fares they earn through the app.