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Tuesday, Jul 16th

Kenya's Mondo Ride aggressive on Africa expansion

Kenya's Mondo Ride aggressive on Africa expansion

Kenya-based ride-hailing company Mondo Ride has established its service in Kenya, Tanzania and Uganda (Kisumu, Dar es Salaam and Kampala, specifically) and plans to enter three new cities by mid-year 2018.

The company, founded in 2014, will not divulge which cities it will focus on, but did say the intention is to expand across the continent.

"We are delighted to bring Mondo to provide the much-needed mobility these fast-growing economies need," said co-Founder and CEO, Troels Anderson, "We've been overwhelmed by the positive response by the customers and drivers in each city and are excited to work with the local community."

The firm is operating in the same space as the likes of Uber and Taxify, and differentiates itself through ride options tailored to suit each region's specific transport requirements.

Himanshu Anand, VP Growth and Co-Founder of Mondo Ride said, "Our first differentiation point is that Mondo Ride is for Africa and we are the only ride-hailing business which is focused entirely on Africa. That means that we are deeply embedded in each of our markets and understand them. We are creating a local solution for each market and that is really important when you see how the other ride-hailing apps have succeeded around the world, like Careem (Dubai) for example."

Mondo Ride also provides corporate transportation service for businesses. Anand said the app appeals to corporates because it is linked to various vehicle verticals, including boda-boda and tuk-tuk, and these services use localised payment methods, including M-Pesa.

The plan is to use a seed funding round of US$5m secured in January to support expansion plans.

He explains the business strategy is broken down into three pillars. "First is geographical expansion, growing as fast as we can and opening up in as many cities as we can. Second is investing in technology so that we can provide the best platform for our business users. And the third pillar is localising each service in each city."

Anand said the firm is now active in raising a Series A funding round, "The continued investment will help us expand into more cities, provide an even better service by investing into technology and constant customisation and tailor making of services. This involves 24/7 call centre, our safety and security procedures, the on-boarding and training of drivers, etc."

The company says it is currently recruiting drivers in Kisumu, Dar es Salaam and Kampala.

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