Ride Tandem

Overview
News
Shared Mobility?
Product stageSegments
Minimum Viable Product
?
Micro mobility services
?

Ride Tandem is a mobility startup headquartered in London, founded in 2019 to tackle the issue of transport poverty in the UK. The company operates a platform that connects existing transportation services, such as taxis, minibuses, and coaches, with commuters who live in areas typically underserved by public and private transportation. Ride Tandem's technology enables companies to create customized routes and schedules for their employees, who can book and pay for their tickets through a passenger app. The app also allows passengers to track the live location of vehicles and receive updates.

Ride Tandem's business model follows a Business-to-Business-to-Consumer (B2B2C) approach, where the company sells its services directly to employers, who then offer it to their employees. Some of Ride Tandem's key clients include Lidl, Next, Royal Mail, and DPD. The company claims its services have enabled passengers to earn over GBP 25 million in wages since its launch in October 2019 by providing access to jobs that would otherwise be inaccessible due to lack of transportation.

Ride Tandem's platform offers unique features such as flexible payment options and block bookings, which cater to the needs of low-income workers who may not have the means to pay for transportation upfront. The company's shared transportation model has also contributed to sustainability efforts, with an average occupancy of over 25 passengers per vehicle, resulting in significant reductions in carbon emissions compared to individual commuter cars.

As of February 2023, Ride Tandem had enabled over 250,000 passenger return trips per year and provided a 24/7 helpline for passengers. The company has developed its technology in-house, allowing companies to monitor arrival and departure times for their employees.


Sources

Disclaimer: This company profile has been generated using data obtained through automated web searches and advanced generative AI technology. While we strive to ensure the accuracy and reliability of our sources, auto-generated information could be outdated or inaccurate and should be verified independently.
HQ location:
London GBR
Founded year:
2019
Employees:
11-50
IPO status:
Private
Total funding:
USD 7.1 mn
Last Funding:
USD 3.0 mn (Seed; Jul 2023)
Last valuation:
USD 10.0 mn (Dec 2021)
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