FastGo to bring ride-hailing service to Indonesia and Myanmar

Vietnamese ride-hailing company FastGo intends to expand its service to Indonesia and Myanmar by the end of the year. In a report from Việt Nam News, Nguyễn Hữu Tuất, FastGo’s CEO, says the company expects to occupy a 30% market share in Indonesia and take second place after Grab in Myanmar. The company aims to raise US$50 million in a new round of funding to help accelerate regional expansion, Tuất adds. According to Tuất: “We chose Myanmar and Indonesia as we have relevant strategies for them in place.
October 11, 2018 Read time: 2 mins

Vietnamese ride-hailing company FastGo intends to expand its service to Indonesia and Myanmar by the end of the year.

In a report from %$Linker: 2 External <?xml version="1.0" encoding="utf-16"?><dictionary /> 0 0 0 link-external Vi&#7879;t Nam News Vietnam News article false https://vietnamnews.vn/economy/466916/fastgo-to-launch-in-indonesia-and-myanmar.html#qG7DKEry2AORe8kS.97 false false%>, Nguyễn Hữu Tuất, FastGo’s CEO, says the company expects to occupy a 30% market share in Indonesia and take second place after Grab in Myanmar.

The company aims to raise US$50 million in a new round of funding to help accelerate regional expansion, Tuất adds.

According to Tuất: “We chose Myanmar and Indonesia as we have relevant strategies for them in place. We already have strategic partners in these two markets to launch our services.”

In August, FastGo secured an undisclosed amount of funding from VinaCapital Ventures, which the firm then used to expand its operations into the coastal city of Đà Nẵng.

“The launch in Indonesia and Myanmar will not affect our expansion and development in Vietnam,” Tuất concludes.

Going forward, FastGo plans to deploy its service into the Philippines, Cambodia and Thailand.

UTC

Related Content

  • February 7, 2019
    Go-Ahead uses Dovu’s blockchain tech to augment customer data
    UK train and bus company Go-Ahead is to use Dovu’s blockchain-driven reward platform to gain more data on its passengers. The scheme will be rolled out initially on Go-Ahead’s Thameslink and Southern Rail train services and offers passengers using the Dovu platform the chance to earn cryptocurrency when they share their travel information. This will be used to help them make changes to their travel behaviour, the companies say. Among other things, Dovu aims to encourage the use and sharing of tran
    Read More
  • June 17, 2019
    Battery bottleneck: EV roll-out at risk
    In order for the take-up of electric vehicles – a key part of the future mobility mix - to grow, we need batteries. And that might prove tricky, reports Graham Anderson Industry and commodities experts fear that the growth in electric vehicles (EVs) could be much slower than predicted due to bottlenecks in global battery market supply chains. “People seem to think that the switch from the internal combustion engine to electric vehicles just means you plug your car in rather than fill it with petrol,” a
    Read More
  • August 29, 2019
    Lime and rivals form Nordic Micromobility Association
    Lime and its competitors Tier and Voi have formed the Nordic Micromobility Association to promote safety standards for electric scooters. The association will seek to strengthen relationships between Nordic cities and micromobility businesses as well as reduce emissions. Earlier this year, Voi announced its plans to launch e-scooters in Lisbon as part of a wider ambition to expand in Europe. The association’s members are not the only companies working to improve the safety of e-scooters. Last ye
    Read More
  • June 27, 2018
    Lyft offering free rides for cancer patients in Atlanta
    Lyft is offering free trips for cancer patients seeking treatment in Atlanta, US. The initiative is part of an extended partnership with the American Cancer Society (ACS). ASC uses Lyft’s Concierge web platform to request rides on behalf of patients who do not have a ride or who are unable to drive themselves, according to media reports. The programme will also launch in Cincinnati, Denver, Houston, Los Angeles, New Jersey, Philadelphia and St. Louis.
    Read More

Highlighted Content