Friday, 15 February 2019 11:03

Shebah raising $3m to fund ride-sharing service expansion Featured

By
Shebah founder George McEncroe Shebah founder George McEncroe

Ride-sharing platform Shebah is turning to equity funding to raise up to $3 million to fund the next phase of its growth ahead of launching in New Zealand this year.

Dubbing itself as Australia’s only women-friendly ride-sharing platform, Shebah has rolled out nationally in Australia and is gearing up to launch into the New Zealand market amid a range of tech upgrades on the back of a what it says is a 190%  increase on number of users year-on-year.

The company says capital raised will enable it to grow its geographical footprint in Australia, launch into the New Zealand market and embark on some “bold user experience improvements” after rapid growth in 2018.

The privately-owned company was founded by Melburnian George McEncroe and pitches its services as promising women safe transportation without harassment.

Shebah says its national fleet of women drivers have Working with Children checks and as part of the driver onboarding program, women can access financial education on superannuation, managing GST and insurance.

But, the company says that despite strong growth, venture capital has been hard to come by.

According to McEncroe, sexism is rife among potential lenders.

“What we decided to do was bring the fruits of our success into the hands of the women who helped us grow; our drivers and our passengers,” McEncroe says.

McEncroe claims Shebah has experienced an 8% jump per month throughout 2018, and a whopping 190% increase on 2017.

The company says it turned over $1.8 million in 2018, up from $500,000 in 2017.

McEncroe says the Australian rideshare industry is worth $290 million and the taxi industry is worth $6 billion, and Shebah is targeting women and children in both categories.

“The business world just doesn’t understand how difficult it is for women founders to raise funds to grow their respective businesses,” McEncroe said.

“People say there’s investment money around, but it’s being held by male gatekeepers who just can’t accept what it’s like for women to travel in other rideshares or taxis and feel the kind of fear a man would never feel if they were in the same scenario.

“The scenario is more proof of the sexism toward women-owned startups – particularly those that service a women-only customer base.

“Men perhaps don’t understand what it is like to sit in the back seat.

“And if women are coming home late, they don’t know the city they’re in very well, or have had a few drinks, they still have the right to get home safely and without feeling dread or fear.”

LEARN HOW TO REDUCE YOUR RISK OF A CYBER ATTACK

Australia is a cyber espionage hot spot.

As we automate, script and move to the cloud, more and more businesses are reliant on infrastructure that has high potential to be exposed to risk.

It only takes one awry email to expose an accounts payable process, and for cyber attackers to cost a business thousands of dollars.

In the free white paper ‘6 steps to improve your Business Cyber Security’ you will learn some simple steps you should be taking to prevent devastating malicious cyber attacks from destroying your business.

Cyber security can no longer be ignored, in this white paper you will learn:

· How does business security get breached?
· What can it cost to get it wrong?
· 6 actionable tips

DOWNLOAD NOW!

ADVERTISE ON ITWIRE NEWS SITE & NEWSLETTER

iTWire can help you promote your company, services, and products.

Get more LEADS & MORE SALES

Advertise on the iTWire News Site / Website

Advertise in the iTWire UPDATE / Newsletter

Promote your message via iTWire Sponsored Content/News

Guest Opinion for Home Page exposure

Contact Andrew on 0412 390 000 or email [email protected]

OR CLICK HERE!

Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

VENDOR NEWS & EVENTS

REVIEWS

Recent Comments