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

  • July 28, 2017
    US connected vehicle pilot deployment sites launch new websites, videos
    The US Department of Transportation (USDOT) connected vehicle pilot locations, New York City (link https://www.cvp.nyc/), Wyoming (link https://wydotcvp.wyoroad.info/) and Tampa, Florida (link https://www.tampacvpilot.com/), have launched new websites and videos dedicated to their connected vehicle deployments. These three locations are leading the charge to deploy advanced wireless communications technology in their vehicles and on their roads in regions throughout the nation. The web sites provide informa
    Read More
  • May 29, 2018
    Car2Go to halt carsharing operations in Toronto
    Car-sharing group Car2Go is suspending operations in Toronto, Canada, because of what it sees as restrictive regulations introduced by the city’s authorities. Toronto City Council is introducing its own free-floating carshare pilot on June 1 which Car2Go says makes its service ‘inoperable’. In a letter to users, Car2Go’s North America CEO Paul DeLong says that companies taking part in Toronto’s new pilot will be charged $1,499.02 per vehicle and that many streets which operate a residents’ parking permit
    Read More
  • December 11, 2018
    Populus and Lime enter vehicle data partnership in Seattle
    A partnership between data and car-share providers has been formed in the US city of Seattle to help improve parking utilisation. Data solutions company Populus will receive real-time GPS data from Lime’s free-floating car-share fleet, LimePod, which launched last month in the city. The Populus platform will then deliver reports to the Seattle Department of Transportation in a bid to evaluate the use of curb space and develop parking strategies that will help reduce vehicle ownership. Populus says its
    Read More
  • July 27, 2018
    Uber’s self-driving cars resume trials in Pittsburgh in manual mode
    Uber’s self-driving cars are being manually driven on public roads in Pittsburgh after a fatal crash which prompted the company to pull out of its testing programme in North America. The company is trialling new safeguards which it says will improve vehicle fleet safety and performance. According to a report by Medium, Eric Meyhofer, head of Uber Advanced Technologies, says: “While we are eager to resume testing of our self-driving system, we see manual driving as an important first step in piloting thes
    Read More

Highlighted Content