Home » Ubirider raises $1.95 million in Seed funding to scale up its mobility fintech solutions

Ubirider raises $1.95 million in Seed funding to scale up its mobility fintech solutions

By Startup Funding News
Ubirider raises $1.95 million in Seed funding to scale up its mobility fintech solutions.

Ubirider, a mobility fintech company, raises $1.95 million in Seed funding.

Techtree Investments and Cedrus R&D III led the investment round with participation from existing investor Grupo Barraqueiro, as well as two angel investors Jose Santos from the United States and Andrés Alcalá from Colombia.

Based in Porto, Portugal, Ubirider provides a digital mobility-as-a-service (MaaS) platform (Ubirider Platform) that includes mobile and web components that serve the interests and needs of travelers, commuters, and mobility operators. With more than 11.4 Million transactions on the Ubirider Platform, Ubirider has demonstrated the high demand for digital and open-loop ticketing (use of contactless bank cards or smartphone wallets) by transport providers and cities. Open-loop and MaaS capabilities deliver added value to riders by offering a seamless travel experience, enabling contactless payment and travel with a smartphone or a bank card.

Strategic partnerships with Mastercard, Deloitte, Payshop, European technology bank Viva.com, and others are enabling Ubirider to be one of the most innovative players and to continue growing its customer base, delivering the most sophisticated MaaS platform to serve both riders and transit operators.

With the help of Mastercard, Ubirider has been able to successfully deploy its innovative platform with contactless payments in various public transit agencies in the Portuguese cities of Lisbon, Evora, Faro, and Beja. Those implementations, combined with the implementation of the mobility-as-a-service (MaaS) platform of the city of Cascais has resulted in nearly 300,000 registered users and 2.1 million tickets sold. Strategic partnerships with Mastercard, Deloitte, Payshop, European technology bank Viva.com, and others are enabling Ubirider to be one of the most innovative players and to continue growing its customer base, delivering the most sophisticated MaaS platform to serve both riders and transit operators.

With new funds, Ubirider plans to grow its business operations internationally and further expand its product development and marketing teams.

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