Netlift provides a transportation application that combines planned carpooling and taxi travel. The app is accessible on the Web and smartphones and matches passengers with drivers willing to share available seats at a low cost per trip for commuting or getting around. Founded in Montréal in 2012, Netlift plans to accelerate full-scale commercialization of its mobile solution, with Montréal planned as the first rollout city. The company secured $3.2M in additional funding to support that commercialization. Backers included the Government of Québec via Investissement Québec, Fonds InnovExport, Real Ventures and existing shareholders BDC Capital, Cycle Capital Management and SDTC. Netlift develops a multimodal ridesharing mobile application that matches drivers and passengers using a patent-pending algorithm combining geomatics, optimization and operations research. The algorithm reportedly produces matching rates 25 to 200 times higher than traditional carpooling systems. The app includes an electronic micropayments platform to avoid cash exchanges and a communication system, and the company already counts several thousand users and enterprise customers such as Bell Canada, the City of Montreal, Montréal–Trudeau Airport and multiple higher-education institutions. Netlift plans to continue product development and expand market share, with a planned entry into the Ontario market by the end of 2017. The announced financing and grant are intended to accelerate commercialization for both consumer and corporate customers.

Total raised

$5M

Funding rounds

2

Latest round

Equity

Latest activity

Nov 2017