RIP Uber, you will be sorely missed. RydeX just launched last week, and we did a thing where we put both Grab and RydeX to the test at the same time. There’s also the Indian ride-hailing company Jugnoo, which launched on the same day as RydeX. But now, another service is set to enter our markets within the coming weeks.
Introducing Filo—no not that that pastry used for making Middle Eastern and Balkan pastries, but a new startup that was founded just last year. The tech company is currently headquartered at Jurong East’s Vision Exchange, just opposite Big Box. According to a report, they’re aiming to offer cheaper fares as compared to taxis and other competitors. Yes, just like everyone else, they’ll be imposing a surcharge when there is a high demand. On their Facebook page, they’ve promised to only take a 12 percent cut from drivers, which is capped at $400 per month. That pretty much sums it up.
We’re going to stay cautiously excited about this new entrant in our ride-hailing soap opera, especially since Filo’s competitors have more funds than them. It’s reported that they’ve raised $50,000, which puts them at a disadvantage since Jugnoo has US$16 million, Ryde US$1.5 million and Grab, US$4.1 billion. There’s also Indonesia’s Go-Jek, the upcoming Singaporean start-up Mass Vehicle Ledger and Malaysia’s Dacsee to look forward to.