The taxi-hailing service Mondo Ride, ventured outside its home turf, Nairobi, into the neighboring countries, Uganda and Tanzania barely eight months ago.
The firm entered the two markets after securing Ksh. 203 million ($2 million) cash injection, which it said will be put into scaling their operations. True to their words, barely eight months later, Mondo Ride has at least 6,000 enlisted drivers across the three East African countries; Kenya, Uganda, and Tanzania.
The said cash injection was from mostly investors from the United Arab Emirates and Egypt. Since its inception, Mondo Ride has been able to secure a total of Ksh. 500 million ($4.9 million) seed funding.
“This funding round will enable Mondo Ride to provide even more rides for busy, active people across the fastest growing cities in Africa. We currently have operations in five cities across Africa, and plan to open in six new cities by the end of 2018,” read in part, a press statement from the company.
The 6,000 or so drivers for Mondo Ride are spread out across Nairobi, Mombasa, Kisumu, Kampala, and Dar es Salaam. The company has several packages for its …read more