After confirming it was indeed eyeing Singapore as its first stop in Southeast Asia earlier this year, the company, which claims to be the best funded tech startup out of London in history, announced its arrival at a press conference on Oct. 29.
What, another Uber and GrabTaxi?
When asked about differentiating itself in the Singapore market, chairman and co-founder Ron Zeghibe said he’s hopeful that Hailo’s competitive features will translate themselves.
“Our combination of features, even if they’re not all available now, will help us stand out,” he said.
Among them is a healthy supply of rides, made possible with the company’s partnership with SMRT and Prime Taxi. Both Singapore transport providers have opened up the opportunity for their drivers to tap on the Hailo database and system, which pays them automatically everyday, for jobs. Hailo’s technologically sound system, which took three years to make, also means that drivers’ downtime is reduced. In this way, the company hopes to help them complete more jobs than usual, earning up to 30 percent more on every shift they work.
Over time, Hailo hopes to make it possible for customers to identify a Hailo partner taxi on the street and flag it. This way, those without cash on standby nor the time to wait for a payment to process before alighting, can take advantage of Hailo’s fully integrated digital wallet system while bypassing the app.
Hailo’s also charging a standard rate by meter for its rides, with no credit card surcharge. Customers can opt to pay in cash or credit card, via the app.
London’s pride
Since launching in 2011, Hailo has been successful in Barcelona, Madrid, New York, Osaka and across Ireland.
It was founded by a team of six, made up of internet entrepreneurs and taxi drivers, and has so far raised a whopping $100 million from investors like Accel Partners, Atomico Ventures, Union Square Ventures and Sir Richard Branson.
Quite a feat considering it debuted its 21st century technology in London, which boasts a 400-year taxi history.
The core tech team is currently based in London, but Zeghibe has revealed there are plans to set up a local support team in Singapore, where it already has four full-time staff. As a full partner, SMRT also lends its market expertise and marketing reach to the Singapore team.
Said SMRT Road Holdings Ltd. managing director Mr. Benny Lim, “SMRT Roads has extensive knowledge in fleet management and driver training. We’re excited about integrating our industry know-how with Hailo’s expertise in mobile booking and payments in order to improve personal transportation for all Singaporeans.”
Hailo is free for download via the App Store and Google Play. New customers can enter promo code “HELLOSING” to enjoy a free $10 credit on their first ride this week. Drivers can sign up at the Hailo website.
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