SG’s Ryde bags $2m from family office

Photo credit: Ryde

Ryde, a Singapore-headquartered carpooling firm, has raised over US$2 million from family office Octava, according to VentureCap Insights, which tracks regulatory filings in Singapore.

Following the deal, Octava now reportedly owns a 70.8% stake in Ryde.

Tech in Asia has reached out to Ryde for official comments.

Funding details

• Funding amount: $2,000,000
• Other investors: Octava
• Stage: A1

Established in 2014 by Terence Zou, Ryde initially started with a social carpooling service. The firm has since expanded to include services such as an e-payment platform, insurance purchases, and taxi bookings.

According to its website, Ryde is also present in Hong Kong, Malaysia, and Australia. Last year, the firm launched an NFT collection to attract more users.

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