ingogo gets traction
Cabcharge, which is already under pressure for its high service fees, may see further disruption to its monopoly position now the start-up taxi booking and payments player, ingogo, has secured another A$1 million in venture capital funding.This takes the total raised by the start-up to $3.7million. ingogo allows passengers to communicate directly with registered taxi drivers in their local area, to directly book taxis with a smartphone, and then to pay for their ride using the firm's own in-taxi payment terminals or virtual mobile accounts.It currently operates in Sydney and is operating in limited pilot stage in Melbourne. The new investment will be used to help launch ingogo into new markets across Australia and internationally. The firm claims to have 15 per cent of taxi drivers on-side.The new investors include Pacific Venture Advisors' Vikram Mehta and Raj Dalal; Trevor Loewensohn; Victor Gomes; and Zac Rosenberg. They join existing investors Hamish Petrie, ingogo founder and also founder of ticketing giant Moshtix; Brad Shofer, one of the co-founders of MYOB; and Martin Dalgleish, a former director of Seek and Carsales.