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Easy Taxi wins funding from Mobily Ventures

RIYADH, September 3, 2014

Easy Taxi has become one of the first two companies to secure funding from Mobily Ventures, the corporate venture capital arm of Mobily, a leading telecommunication operator in Saudi Arabia.

Easy Taxi, one of the world’s leading mobile taxi apps, has secured a total funding of $77 million for expansion. The amount of funding from Mobily Ventures has not been revealed.

Easy Taxi allows customers to book taxis through their smart phones and therefore, increase the efficiency and speed of hiring taxis. Easy Taxi Middle East is currently operating in Saudi Arabia, Kuwait, Qatar, Bahrain and Jordan and this partnership will contribute to the further expansion of its operations in the region.

Dr Mahmoud Fouz, CEO at Easy Taxi Middle East, said: “We are growing rapidly in the Middle East and strategic partnerships with top innovation leaders such as Mobily will play an instrumental part to the success of our company and distinguish our region as leaders in technology”.

“Our trained and tracked drivers are finding passengers more efficiently and this solution is becoming very popular for individuals and businesses as well. In Saudi Arabia, women account for 80 per cent of Easy Taxi orders, and we believe we can contribute to the quality of life for Arab women in the whole region,” Dr Fouz added.

Dr Karl-Michael Henneking, chairman of the board at Mobily Ventures, said: “Easy Taxi Middle East is an innovative mobile taxi booking system. It has the potential to bring customer experience to a new level and has a natural fit with Mobily. We serve millions of users with high-speed mobile internet access and at the same time enable innovative over the top services that change people’s lives in the Middle East. We can support Easy Taxi beyond funding in ways very few can match, in particular in Saudi Arabia.“

Easy Taxi is available for android, iOS, blackberry, and windows phone devices, as well as for B2B clients through Easy Taxi Pro and Easy Taxi Corporate solutions. – TradeArabia News Service




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