UK-based mobility startup RideTandem has raised £1.75 million in seed funding. 1818 Venture Capital led the round, alongside Conduit Connect, Low Carbon Innovation Fund, previous investors Ascension and Seedrs, and angel investors.
The extra cash will support the company’s continued hiring, particularly in product management and engineering.
Founded in 2019 by Alex Shapland-Howes, Tatseng Chiam, and Huw McLeod, the startup aims to build the next generation of mobility outside cities and towns.
Working with local transport companies, it provides affordable, reliable, and sustainable shared transport solutions that connect people in transport poverty with jobs they would otherwise be unable to get to.
The model is built on employers subsidizing fares as an investment in broadening their talent pool – some even cover the entire cost, providing free transport as a benefit.
The employers also get a real-time view of passenger numbers, providing early warning of potential staffing issues. Transport providers – mostly independent local businesses – get a new, reliable revenue stream.
The company operates outside of cities and urban centers, with its coverage currently strongest across the Midlands and East of England.
Customers include Royal Mail, Primark, Transport for West Midlands, Direct Table Foods, Banham Poultry, and staffing agencies Manpower, Reed, First Call Contract Services, and Everest People Solutions.
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