Ubirider, a trailblazer in the mobility FinTech sector, has announced a successful close of its seed funding round, amassing an impressive $1.95m.
According to BNNBreaking, this significant financial injection was co-led by Techtree Investments and Cedrus R&D III, featuring contributions from existing investor Grupo Barraqueiro and a cohort of angel investors from the United States and Colombia. Ubirider’s digital platform stands at the forefront of modernising the interaction between transport providers, riders, and cities, ensuring fluid movement, information exchange, and financial transactions.
This FinTech firm is reinventing urban mobility through its platform, having processed over 11.4 million transactions to date. Ubirider champions the adoption of digital ticketing solutions that support open-loop contactless payments via bank cards or smartphone wallets. This innovation not only streamlines the travel process but is also indicative of the wider trend towards public transport digitisation. According to forecasts by Data Bridge Market Research, the global market for mobile payment technologies is expected to reach $2 trillion by 2030, growing at a compound annual growth rate of 37%. This growth trajectory highlights the pivotal role Ubirider plays in shaping the future of urban transit.
In its quest for innovation, Ubirider has forged strategic partnerships with industry giants such as Mastercard, Deloitte, and Payshop, which have been instrumental in rolling out the firm’s contactless payment solutions across various public transport agencies in Portugal. These collaborations have not only underscored Ubirider’s innovative capacity but have also paved the way for nearly 300,000 registered users and the sale of 2.1 million tickets, demonstrating the platform’s potential to make public transportation more efficient, sustainable, and user-friendly on a global scale.
Central to Ubirider’s mission is improving the commuting experience for both passengers and operators. The company’s intuitive mobile app, Pick, simplifies trip planning, payment, and navigation for riders, while offering operators valuable insights into commuter trends and behaviors. This enables more informed, data-driven operational decisions. With its recent rebranding and push towards internationalisation, Ubirider is poised to significantly impact the global mobility landscape.
Ubirider CEO Pedro Pinto said, “This funding represents a monumental step towards realising our vision of transforming global mobility systems. We are grateful for the trust our investors and partners have placed in us and excited about the opportunities this capital unlocks for further innovation and expansion.”
Previously, Ubirider had attracted attention and funding for its innovative approach to mobility solutions, setting the stage for this latest successful funding round.
Source: Fintech Global
