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Last-mile delivery made easy: London-based Ryde picks £2.5M funding for growth expansion

London-based SaaS platform for last-mile delivery Ryde formerly known as Ryders wants to unlock hyperlocal last-mile delivery for every business across industries with its one-stop solution. Now, the platform announced that it picked up £2.5 million in a seed funding round.

The investment round was led by Forward Partners that announced their IPO recently and Triple Point. Also, the existing investors of Ryde – Seedcamp and Swiss Founders Fund participated in the round. Alongside the institutional investors, the company continues to build an impressive list of angels, including Michael Pennington (Gumtree), Will Neale (Fonix), Matt Robinson (Go Cardless) and Ines Ures (former Deliveroo CMO).

Ryde will use the funds to continue to expand its vision to become the world’s first fully-integrated delivery management system. The raise follows a pivot from their original platform – Gameplan, built to service enterprise clients in the events sector.

Luke Smith, partner at Forward, commented “Last-mile delivery is increasingly important for retailers and Ryde can enable seamless delivery for any business whilst improving the experience for gig workers. We’re very excited to be backing them on their journey to become a key part of the e-commerce infrastructure.”

Daniel Cardenas-Clark, an investor at Triple Point, commented: “We have been immensely impressed with what Duncan and Tom have achieved to date and couldn’t be more excited to be supporting them on their mission to win the blended service category. The ‘rider first’ philosophy positions Ryde on the right side of history as far as treating gig workers is concerned and is a much-needed change of direction in the industry.”

Rider first strategy

Ryde’s founders Tom Nimmo and Duncan Mitchell have considerable sector-specific experience. Tom led the growth of cleaning marketplace Hassle across Europe before being sold to German-based Helpling while Duncan developed TempTribe to become a leading player in tech-enabled hospitality staffing.

Ryde comes to market with a “rider first” philosophy that puts the workforce wellbeing at the heart of all their decision-making It rethinks everything from how gig workers receive and engage with their jobs to how the internal team supports them. Eventually, it improves the experience and optimises how a worker can blend scheduled and hourly shift jobs with on-demand work. The app helps workers to map earnings and routes far more effectively than their competitors.

It is a solution wherein companies will upload and self-manage their own pool of workers while accessing an outsourced pool of thousands across the UK as required. Since its debut, Ryde has growng rapidly and has an impressive clientele comprising Ocado, Gorillas, Dija and Slerp.

“When Covid hit, we had to think on our feet,” commented CEO Mitchell. “100% of our customer base went into lock-down overnight, and we were under pressure to find a way forward.

CTO Nimmo said, “We feel that at the moment, being an on-demand delivery worker sucks! Your job is essentially to sit on the street and hope for the best. Sometimes you get to work, other times, you don’t. As we’ve built our rider app, we’ve focused a lot on improving this experience for them.”

The post Last-mile delivery made easy: London-based Ryde picks £2.5M funding for growth expansion appeared first on UKTN (UK Tech News).

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