Ride-hailing firm Gett completes latest £84million funding round
Gett, the global ground travel SaaS (Software as a Service) platform, has completed a £84million ($115million) funding round as it continues to roll-out its ground travel software platform for businesses worldwide.
The additional £11million ($15million) is an extension of the £73million ($100million) round announced in June 2020, to accommodate interest from new investor Pelham Capital Investments Ltd. and Gett’s existing investors.
The proceeds will be used to further accelerate the development of the SaaS platform and the company’s global expansion.
Gett says it brings the “fragmented world“ of ride-hailing companies and corporate fleets together on one platform, “optimising its clients’ corporate ground travel needs“. From booking and riding to invoicing and analytics, they say they're helping save corporates both “time and money while increasing employee satisfaction”.
Dave Waiser, Chief Executive Officer at Gett, said: “We are on a journey to transform corporate ground travel and I’m delighted that investors find our model attractive. This investment will allow us to further develop our SaaS technology and deepen our proposition within the corporate ground travel market.
“It has been an incredibly difficult period for the travel sector but we are pleased to have finished 2020 operationally profitable and on budget.”
Amos Genish, Gett Chairman, added: “This funding round was oversubscribed, which shows the market’s interest in our platform and long term vision. Gett is disrupting and transforming a fragmented market delivering ever-critical cost optimisation and client satisfaction.
“There are clear parallels between Gett and GDS companies like Amadeus or Sabre Group, which improved travel booking experience in the highly fragmented air travel sector twenty years ago; and Booking.com, which transformed the hotel industry’s supply market. Gett is following the same, proven business model to solve fragmented supply in ground transportation for Corporates.”
