Ride-Sharing Platform Tripda Raises $11 Million Series A Funding

29 JANUARY 2015, NEW YORK, USA
Summary
New York, Jan. 29, 2015 – Tripda, the global ride-sharing community that made its U.S. debut in November 2014, has today announced an $11 million Series A funding round by Rocket Internet and other investors.

Tripda plans to use the new round of funding to expand its U.S. operation and grow its user base across 13 countries where it operates, as well as continuing to develop its web and mobile product for multiple markets.

“We are delighted by the endorsement and backing by Rocket Internet and the prominent New York-based venture capital fund that comprised this round. Their support is a clear affirmation of our business model and will help us accelerate our expansion as the premier ride-sharing platform in the U.S.,” commented Adi Vaxman, Co-founder and CEO of Tripda. “Through this support, we look forward to connecting even more people who need rides with drivers who have empty car seats as an alternative to bus, rail and short-air transportation,” she explained.

Tripda, which connects people who need rides with people who have empty car seats, fills the important long-distance (often inter-state) travel market as a perfect alternative to buses, trains and short flights. Passengers and drivers can set personal travel preferences, exchange messages and mutually filter travel partners taking similar journeys.

Available through web and mobile app platforms for iOS and Android, including payment processing, Tripda verifies drivers and passengers to ensure security, safeguards user privacy, and even offers a “Ladies Only” option for women seeking all-female rides.

Currently operating in 13 countries across the Americas and Asia, the U.S. launch of Tripdafocused on major metro areas in the Northeast and Midwest, including New York City (its headquarters), as well as Boston, Buffalo, Chicago, Cincinnati, Cleveland, Detroit, Indianapolis, Milwaukee, Philadelphia, Washington, DC and more, with broad expansion nationally very soon.

Tripda is available nation-wide to users who wish to travel medium to long distances across the United States.

About Tripda

Tripda’s mission is to make traveling more fun and protect the earth, one shared car ride at a time. Tripda connects people making similar trips so that everyone wins: the driver, the passenger and the environment. A Tripda ride is cheaper, simpler, greener, safer, faster and friendlier than other forms of travel. Founded in 2014, Tripda is a global platform rapidly expanding throughout North America, Latin America and Asia. Currently, the company operates in 13 countries.

About Rocket Internet

Rocket's mission is to become the world’s largest Internet platform outside of China and the United States. Rocket identifies and builds proven Internet business models and transfers them to new, underserved or untapped markets where it seeks to scale them into market leading online companies. Rocket is focused on online business models that satisfy basic consumer needs across three sectors: e-Commerce, marketplaces and financial technology.

Rocket started in 2007 and now has more than 25,000 employees across its network of companies, which operate in more than 100 countries on five continents. Rocket Internet AG is listed on the Frankfurt Stock Exchange (ISIN DE000A12UKK6, RKET). For further information, visit www.rocket-internet.com 

Quotes
"We are delighted by the endorsement and backing by Rocket Internet and the prominent New York-based venture capital fund that comprised this round. Their support is a clear affirmation of our business model and will help us accelerate our expansion as the premier ride-sharing platform in the U.S." Adi Vaxman, Co-founder and CEO of Tripda
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About Rocket Internet

About Rocket Internet

Rocket Internet incubates and invests in internet and technology companies globally. It provides operational support to its companies and helps them scale internationally. Rocket Internet focuses predominantly on four industry sectors of online and mobile retail and services that make up a significant share of consumer spending: Food & Groceries, Fashion, General Merchandise and Home & Living. Rocket Internet’s selected companies are active in a large number of countries around the world with more than 33,000 employees. Rocket Internet SE is listed on the Frankfurt Stock Exchange (ISIN DE000A12UKK6, RKET). For further information please visit www.rocket-internet.com.

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