Daily Management Review

Gett raises $100M investment to develop international SaaS platform


Gett, an online taxi service, has raised $ 100 million from new and existing investors and will go towards developing an international SaaS platform for corporate clients, the company said.

Marco Verch via flickr
Marco Verch via flickr
“The coronavirus pandemic has dramatically changed the way people move around the city. Companies today are striving to offer their workers a safe way to travel and optimize costs... Achieving profitable and fully funded status is critical for Gett.”

The funds received will be invested in the international expansion of Gett's corporate SaaS platform and preparation for a potential IPO, said Gett founder and CEO Dave Waiser, whose words are quoted in the message.

The SaaS platform of the service allows managing all trips (including the ability to choose different suppliers) through a single booking system that combines local and global taxi, limousine, personal driver and on-demand services. The platform provides management of the process from the moment of ordering and starting a trip to invoicing and reporting. The service is available in most countries of the world and allows saving 25%on average on ground transportation costs.

Global companies are using the platform to reduce travel costs, ensure the mobility and safety of remote workers in line with post-coronavirus standards. Corporate taxis are considered by them as a safer and more efficient alternative to public transport, the report says.

The total amount of investments attracted by Gett exceeds $ 750 million.

source: bloomberg.com