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.

Urban Traffic Control

Related Content

  • March 21, 2018
    Be-Mobile displays Flowcheck car data application
    Be-Mobile is using Intertraffic to invite visitors to learn more about its range of innovations including a floating car data application. Called Flowcheck, the product, is designed with the intention of enabling users to uncover bottlenecks in their areas and receive insights into city accessibility, the location of where traffic is cutting through residential areas and where it slows down. Additionally, the company’s connected intelligent transport systems platform aims to provide drivers with
    Read More
  • May 3, 2018
    OptiBus launches AI solution to help transit operators reduce service delays
    Technology company Optibus has launched its artificial intelligence optimisation solution to help transit operators reduce delays and provide an improved service for passengers. Called On Time, the platform's proprietary algorithms analyse data created during daily transit operations and help transit operators determine issues that impact a timely service – such as rush hour traffic, driver behaviour and vehicle type. The system collects and analyses historical operational data from GPS systems and other
    Read More
  • July 4, 2019
    CurbFlow looks at PUDO in Washington, DC
    The District Department of Transportation (DDoT) in Washington, DC is working with CurbFlow to carry out the next phase of its kerbside pick-up and drop-off (PUDO) programme. DDoT says the programme allocates kerbside space for PUDO activities, allowing passenger and commercial loading to occur at the kerb and out of travel lanes. Jeff Marootian, DDoT director, says: “By exploring new kerbside management options through this partnership with CurbFlow, DDoT is able to keep traffic flowing, maximise effic
    Read More
  • April 29, 2013
    LED lighting strobes within ITS
    Specialist in the design and manufacture of LED illumination and control solutions for machine vision and intelligent traffic applications, Gardasoft, has published a White Paper that deals specifically with the integration and advantages relating to the use of LED lighting within ITS systems.
    Read More

Highlighted Content