Easy Taxi The World's Largest Taxi App Arrives to Egypt with an Initial Investment of 200 Million EGP in Funding
Easy Taxi, the international taxi booking mobile application backed by the German startup incubator Rocket Internet has officially kicked off its operations in Egypt at the beginning of this month. The fast growing company starts its expansion campaign in Africa and the Middle East after receiving a second cash injection from a JV between Rocket Internet and the European telecoms operator Millicom amounting its initial investment for the year to a total of 200 million EGP. This aggressive funding comes after the company experienced skyrocketing growth in the countries of Asia and Latin America specifically Brazil and Colombia, where in a course of 10 months Easy Taxi has accomplished an almost complete domination over the Taxi industry.
The application, which is free, makes getting a taxi the easiest thing in the world; if you are at your home or out some place, a few clicks on your smartphone before going out to the street will ensure a cab waiting for you by the time you get out. The simplicity of the application and the user friendly graphics contribute to its fast spread usage and increasing downloads in different countries.
The company's expansion plan in Africa and the ME has Egypt or specifically Cairo as its first stop, due to the attractive market attributes of the densely populated city. When asked what is it that qualified Cairo to be the starting point, Founder and Country Manager of Easy Taxi Egypt, Hussein Abdelkarim answers "Cairo is the most populated capital in the region, making transportation one of the pressing issues in the country, and hence any solutions offering more convenience to certain segments of the public will be welcomed and quickly adopted". He adds that the huge human population, entails a huge taxi population, an availability of supply and demand that allows for skyrocketing growth of the company. "Also since most of the taxis in the city are self-operated as opposed to company managed, there is a huge room for service improvement that eventually leads to better customer experience and improved public transportation services in the country".