$5M to make car-sharing more accessible across APAC
GetGo, a company in Singapore that lets people share cars, just got $5 million to help more people in Asia-Pacific share cars.
The people who give money to a company to help it grow are called investors.
In this case, a company called Vertex Ventures Southeast Asia and India gave the most money, and other companies like Sequoia Capital India, BEENEXT, and SPARX Group also gave money.
GetGo wants to use the money to get more cars, offer new things, and go to new places in Asia. They also want to use the money to make their technology better, so it’s easier and cheaper for people to share cars.
GetGo is a company that lets people share cars. They are in three countries and have lots of people using their service. They have many different plans for how long you can rent a car.
Car-sharing means that instead of everyone having their own car, people are sharing cars with each other. This is happening more and more in Asia-Pacific because people are living in cities and caring more about the environment.
When people share cars, it helps to make the roads less crowded, keeps the air cleaner, and solves the problem of finding parking spaces.
The car-sharing market in the APAC region is predicted to get bigger and reach $18.2 billion in 2027, from $5.2 billion in 2022.
This is because more and more people are living in cities, earning more money, and caring more about the environment.
GetGo wants to grow and make more places where people can share cars. This is happening when more and more people in Asia are starting to use car-sharing.
GetGo wants to make it easier and cheaper for people to share cars, so they will probably get a big part of this growing market.
How This Will Make Car-Sharing More Accessible
GetGo plans to use the funding to make car-sharing more accessible in the following ways:
- Expanding its fleet of vehicles: GetGo plans to add more vehicles to its fleet, making it easier for people to find a car when they need one.
- Launching new services: GetGo plans to launch new services, such as one-way rentals and car-sharing subscriptions. This will make car-sharing more convenient and affordable for a wider range of users.
- Entering new markets: GetGo plans to enter new markets in APAC, such as Indonesia and Vietnam. This will make car-sharing accessible to more people in the region.
- Investing in technology: GetGo plans to invest in technology to improve its platform and make car-sharing more convenient and affordable.
For example, the company plans to develop a mobile app that allows users to reserve and rent cars with just a few taps.
Overall, GetGo’s expansion plans are likely to make car-sharing more accessible and affordable for people across APAC. This will help to promote sustainable transportation and make cities more livable.
