# Ryde

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ryde

- Industry: Software
- Headquarters: London, UK
- Website: www.ryde.team
- Total disclosed funding: $3.5M
- Latest round: Seed (Aug 4, 2021)
- Investors on record: 4

## About

Ryde is a UK-based delivery marketplace enhancing gig workers' lives by providing efficient same-day delivery services tailored for local retailers, e-commerce businesses, and individual consumers seeking quick logistical solutions.Founded in 2018, Ryde operates as a delivery marketplace focused on the gig economy, headquartered in London, UK. The company has pursued two deals, with the most recent deal occurring on August 4, 2021. Co-founded by Duncan Mitchell and Tom Nimmo, Ryde raised GBP 2.52 million in Seed funding, achieving a post-money valuation of GBP 14.84 million.Ryde operates as a prominent delivery marketplace that caters specifically to the gig economy, focusing on enhancing the lives of gig workers. The company's core offerings revolve around same-day delivery services that facilitate quick and efficient transport of goods. These services cater to a diverse client base including local retailers, e-commerce businesses, and individual consumers who require rapid delivery solutions. Ryde’s platform enables users to connect with delivery personnel, allowing for the seamless execution of deliveries in various urban areas, particularly across the UK. The company aims to solve the logistical challenges faced by both businesses needing fast delivery and gig workers seeking flexible employment opportunities, thereby fostering a mutually beneficial ecosystem.Ryde generates revenue primarily through its delivery services, structured around transaction fees charged for each completed delivery. The pricing model involves fees based on distance, weight, and urgency of the delivery. Clients, such as retailers and e-commerce operators, engage with Ryde's services on a per-delivery basis, establishing a direct relationship that facilitates recurring business. This structure supports a range of clients from small local shops to larger online retailers who require robust delivery solutions. The company’s focus on same-day services positions it competitively within the marketplace, appealing to those seeking immediate logistics support.In August 2021, Ryde raised GBP 2.52 million in Seed funding co-led by Forward Partners and TriplePoint Capital, with participation from Seedcamp and Swiss Founders Fund. The company will utilize this funding to pursue its vision of becoming the world's first fully integrated delivery management system. Future plans include the development and launch of new products designed to enhance user experience and explore expansion into new markets across Europe and beyond, with a targeted timeline for these initiatives yet to be specified.

## Funding rounds

- Seed, Aug 4, 2021, $3.5M — TriplePoint Capital, Seedcamp, Forward Partners, Swiss Founders Fund

## Investors

- TriplePoint Capital (https://capitalatlas.ai/funds/triplepoint-capital) — Seed
- Seedcamp (https://capitalatlas.ai/funds/seedcamp) — Seed
- Forward Partners (https://capitalatlas.ai/funds/forward-partners) — Seed
- Swiss Founders Fund (https://capitalatlas.ai/funds/swiss-founders-fund) — Seed