Profitable Taxi Company Investment Opportunity in Toronto, Canada

Sustainable rideshare company operating in Toronto with over 2,500 users and 100+ drivers seeks investment.
This Business is on a Premium Plan
Established 1-5 year(s)
Employees 2 - 5
Legal Entity C Corporation
Reported Sales USD 16 thousand
Run Rate Sales USD 20 thousand
EBITDA Margin 18 %
Industries Taxi + 1 more
Locations  Toronto
Local Time 9:01 PM America / Chicago
Listed By Business Owner / Director
Status Active
Overall Rating
Seeking Investment
USD 1.6 million for 20.0% stake (Native Currency: CAD 2,000,000)
Reason: - Funds will be used for staffing, passenger incentives, and marketing in order to rapidly scale ope... View More
Includes physical assets worth USD 80 thousand
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Business Overview

• Ride-hailing company based in Toronto and has been operational for over 2 years.

• Customer acquisition cost over 5X less than competitors such as Uber and Lyft.

• Repeat customer rate is over 75%.

• Overwhelming organic driver acquisition with a waitlist of over 300 drivers.

• In only 8 weeks, we managed to capture 0.3% of the Toronto market.

- Key differentiators include:

• All our vehicles are hybrid or fully electric.

• Our driver commission is about half the competitions.

• We’re 10-15% cheaper. Our rates don’t surge.

• We focus on full-time drivers with at least 1-year experience. We inspect and road-test drivers in-person to ensure quality.

• Mobile app is live on Google Play Store and Apple Store. App has over 500 downloads and 4.5+ start ratings on Play Store.

• App, software and payment processing technology are developed in-house.

• We charge a percentage fee from drivers and a flat rate from riders to generate revenue.

- Our team is exceptional, and has a proven track record of success:

• CEO:

- Former head of operations and marketing at a startup that was funded by the popular VC television show.

- Former physician, surgeon, and award-winning clinical researcher at the University of Geneva Hospitals in Switzerland.

• CTO:

- Co-founder of a company that has a market cap >$1 billion USD.

- Former CTO of one of the largest E-commerce marketplaces in Canada which was successfully acquired; former senior software engineer at a company valued at > $500 million.

• CMO:

- Worked with high profile clients such as Tylenol, Gerber, Renault, Fiat, Nestle, Nescafé, UNICEF, MasterCard, Jeep.

- Former executive at a private corporate agency of the Ontario Ministry of Transport.

Products & Services Overview

1. Ridesharing.

2. Loyalty program.

3. Proprietary payment processing (Developed by a wholly-owned subsidiary of our company and FINTRAC approved registered money services business)

4. Targeted coupon delivery.

Assets Overview

Physical assets include a few of our own vehicles and intangible assets include proprietary software, mobile app, website, Toronto taxi plates.

Facilities Overview

Currently, all operations are remote with plans to establish an office once the pandemic has cooled.

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Disclaimer: SMERGERS is a regulated marketplace for connecting business sell sides with investors, buyers, lenders and advisors. Neither SMERGERS represents nor guarantees that the information mentioned above is complete or correct.
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