Ryde is a Singapore-based carpool app that uses GPS technology and a proprietary algorithm to match drivers with riders. Founded by Terence Zou, a Harvard Business School graduate, the service launched in April 2015 and has grown to more than 10,000 active users to date. Ryde is certified as a social enterprise by the Singapore Centre of Social Enterprise and has engaged companies and over 20 organisations to promote its service. Partners and promoters include DBS Bank, Standard Chartered Bank, the National University of Singapore (NUS) and Nanyang Technological University (NTU). The company raised $1.5m in seed funding from strategic angel and private investors. It plans to use the proceeds to scale its application and pursue expansion into overseas markets.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Nov 2015