The GetGo team
Singapore-based carsharing platform GetGo Technologies has secured an SGD20 million (US$15 million) investment from Treïs, a family-backed investment group.
This will enable GetGo to accelerate the growth of its electric fleet with a target of 10,000 greener vehicles by 2030 and to strengthen its technology and operational platform.
Also Read: Is Singapore ready for the EV revolution?
Launched in February 2021, GetGo operates over 2,100 vehicles across 1,400 locations, serving over 50,000 users and making over 150,000 bookings monthly. With no deposit or membership fees, users can flexibly book a car for as short as an hour and as long as five days.
GetGo cars are typically used to take children and the elderly to activities, to go out with family and friends, or to transport bulky items.
The service’s cost is based on duration and distance, with fuel, maintenance, and insurance costs all included.
Toh Ting Feng, CEO and Co-Founder of GetGo, said: “We believe that sustainable and efficient carsharing has a critical role to play in the government’s vision of a green and car-lite society. It is especially important in Singapore, where we have a world-class public transportation system and the world’s highest cost of car ownership.”
Also Read: Goldbell acquires BlueSG, to invest US$52.3M in the e-car sharing firm over the next 5 years
“Treïs’ investment allows us to continue our push towards electrification and extend our technology leadership. By 2030, we aim to serve more than a million households in Singapore, greatly reducing the need for car ownership and realising a significant part of Singapore’s Green Plan 2030,” he added.
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