Wetaxi gets €824,000 in the first 24 hours of crowdfunding on Mamacrowd

November 25, 2021
Investors include taxi drivers, partners and employees

Wetaxi is the most popular cab booking app in Italy and the first to have introduced the Maximum Guaranteed Fare: born in 2017 in Turin with the aim of improving mobility in the city, it has been chosen by over 200,000 users and 5,650 taxi drivers, in 26 different Italian cities. The operation is based on a collaborative model, making itself available to the local taxi driver cooperatives of the cities in which it operates to support the process of innovation and digitalization of the service. In fact, thanks to Wetaxi, it has also been possible to activate effective partnerships between cab service realities such as Trenitalia, Moovit, Urbi or Telepass that have made it simpler, more accessible and easier to transfer between different means of transport.

In addition to integrating seamlessly with existing services, Wetaxi has also had the great merit of being able to create a lot of advantages for users who, thanks to the app, can know in advance how much they will spend, thanks to the maximum budgeted rate that cannot be exceeded..

Surely these were the reasons that led many investors, taxi drivers, partners, customers and employees to believe in the crowdfunding activated on Mamacrowd by the startup, leading to overfunding, i.e. exceeding the target set, in the first day of the campaign. The amount collected is in addition to the investments of the AZ ELTIF - ALIcrowd sub-fund, set up by Azimut Investments SA and managed under delegation by Azimut Libera Impresa SGR SpA, which already supports Wetaxi.

Massimiliano Curto, CEO of Wetaxi, commented: "We are really proud of this result: the fact that we have reached the minimum target and the maximum in less than 24 hours is a sign of important restart for our industry and of renewed confidence in our model and our company. I don't have the list with all the subscribers yet, but I know that investors include taxi drivers, partners and employees. We have chosen to grow by relying on a method, that of equity crowdfunding, which allows us to involve private individuals, such as users and taxi drivers who are the first users of our technology, to honor our mission in this context as well: to create value and drive the sector by promoting collective growth".

Photo credit: Wetaxi

Author

Luca Coppolella
Head of Content

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