GetTaxi app nets $25 mln

Taxi app GetTaxi has raised $25 million in a targeted $150 million round. The investor was Swedish investment fund Vostok Nafta.

PRESS RELEASE

GetTaxi is closing $150 million round of funding, having received the first $25M from Vostok Nafta (a Swedish-based publicly traded investment fund), bringing the total investment in the company to over $207M.

GetTaxi expects to hit a run rate of $150M in revenues (and significantly larger in gross bookings) by the end of this year and continues to grow at 400% per annum. It’s already bigger than all of its direct competitors and just second after Uber globally. GetTaxi current revenues are larger than Lyft and several times bigger than Hailo and others.

What makes GetTaxi (operating as Gett in NYC) unique is that while being a consumer company at heart (more than 80% of rides are generated by consumers), it also offers a comprehensive corporate solution. Almost half of Fortune 500 companies already use the GetTaxi product for businesses and over 1,500 large corporations use GetTaxi for their transportation needs in London, Moscow and Tel Aviv.

The new funding will be used to launch our corporate solution in New York City as well as to expand our already successful business product in London, where we serve businesses with iconic black cabs. We will also continue our expansion into key cities in Europe.

Since our launch more than three years ago, our goal has always been to provide a best-in-class on-demand transportation experience to serve all of our customer needs. Whether it’s work or leisure related travel, our clients enjoy our 24-hour live customer care, immediate and advanced booking, and predictable and flat pricing with no surge.

We’re working hard to make our service better every single day and we’re so grateful to every single one of our drivers, users, partners and investors.

About GetTaxi
Founded in 2010, GetTaxi is a free app for iPhone and Android that lets you instantly book a ride with a tap of your mobile. We exist to wow passengers and drivers alike by giving them a more reliable, fast and safe way to travel around.

Today, we are a global taxi grid across three continents with the best mobile technology, on demand and advanced booking capabilities, 24/7 live customer support, flat, predictable pricing and an unbelievable customer experience that takes transportation to lofty new heights. We’ve motored into 24 cities globally, including New York (Operating as Gett) , London, Moscow, St Petersburg and Tel Aviv. Along the journey we’ve picked up 10 million passengers and we’re growing by 400% yoy. GetTaxi is the only on-demand car app that also provides a full business offering, with an impressive portfolio of over 1,500 corporate clients, including the majority of the Fortune 500, use GetTaxi as their way to get around.

GetTaxi was featured as Editors’ Choice by: The App Store, Google Play and BlackBerry World. Selected by Forbes as one of the “top 15 explosively growing companies this year.”

Every second, someone, somewhere, is taking a GetTaxi ride. www.GetTaxi.com

About Vostok Nafta
Vostok Nafta Investment Ltd (Vostok Nafta) is a Swedish-based investment fund.

Vostok Nafta has a global investment mandate and a special interest in online businesses with network effect characteristics.

Currently, Vostok Nafta’s largest portfolio holdings are in Russia: Avito.ru –multibillion dollar valued and number 1 classfied site and Tinkoff systems, #1 online retail financial service, which went public on the main list of London Stock Exchange on October 25th, 2013.

The Swedish Depository Receipts of Vostok Nafta are listed on Nasdaq OMX Stockholm’s list for mid cap companies with the ticker VNIL SDB.GetTaxi (Operating as Gett in NYC) raising $150M funding round.

GetTaxi is closing $150 million round of funding, having received the first $25M from Vostok Nafta (a Swedish-based publicly traded investment fund), bringing the total investment in the company to over $207M.

GetTaxi expects to hit a run rate of $150M in revenues (and significantly larger in gross bookings) by the end of this year and continues to grow at 400% per annum. It’s already bigger than all of its direct competitors and just second after Uber globally. GetTaxi current revenues are larger than Lyft and several times bigger than Hailo and others.

What makes GetTaxi (operating as Gett in NYC) unique is that while being a consumer company at heart (more than 80% of rides are generated by consumers), it also offers a comprehensive corporate solution. Almost half of Fortune 500 companies already use the GetTaxi product for businesses and over 1,500 large corporations use GetTaxi for their transportation needs in London, Moscow and Tel Aviv.

The new funding will be used to launch our corporate solution in New York City as well as to expand our already successful business product in London, where we serve businesses with iconic black cabs. We will also continue our expansion into key cities in Europe.

Since our launch more than three years ago, our goal has always been to provide a best-in-class on-demand transportation experience to serve all of our customer needs. Whether it’s work or leisure related travel, our clients enjoy our 24-hour live customer care, immediate and advanced booking, and predictable and flat pricing with no surge.

We’re working hard to make our service better every single day and we’re so grateful to every single one of our drivers, users, partners and investors.

About GetTaxi
Founded in 2010, GetTaxi is a free app for iPhone and Android that lets you instantly book a ride with a tap of your mobile. We exist to wow passengers and drivers alike by giving them a more reliable, fast and safe way to travel around.

Today, we are a global taxi grid across three continents with the best mobile technology, on demand and advanced booking capabilities, 24/7 live customer support, flat, predictable pricing and an unbelievable customer experience that takes transportation to lofty new heights. We’ve motored into 24 cities globally, including New York (Operating as Gett) , London, Moscow, St Petersburg and Tel Aviv. Along the journey we’ve picked up 10 million passengers and we’re growing by 400% yoy. GetTaxi is the only on-demand car app that also provides a full business offering, with an impressive portfolio of over 1,500 corporate clients, including the majority of the Fortune 500, use GetTaxi as their way to get around.

GetTaxi was featured as Editors’ Choice by: The App Store, Google Play and BlackBerry World. Selected by Forbes as one of the “top 15 explosively growing companies this year.”

Every second, someone, somewhere, is taking a GetTaxi ride. www.GetTaxi.com

About Vostok Nafta
Vostok Nafta Investment Ltd (Vostok Nafta) is a Swedish-based investment fund. Vostok Nafta has a global investment mandate and a special interest in online businesses with network effect characteristics.

Currently, Vostok Nafta’s largest portfolio holdings are in Russia: Avito.ru –multibillion dollar valued and number 1 classfied site and Tinkoff systems, #1 online retail financial service, which went public on the main list of London Stock Exchange on October 25th, 2013.

The Swedish Depository Receipts of Vostok Nafta are listed on Nasdaq OMX Stockholm’s list for mid cap companies with the ticker VNIL SDB.

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