Ride-hailing firm Ryde ties up with Trans-Cab

Commuters using the ride-hailing app Ryde can book taxis from Trans-Cab through the app's private-hire booking option from next month.

In addition, Trans-Cab taxi drivers can take jobs on Ryde's social carpooling platform, the first arrangement of its kind.

Ryde said the tie-up would allow it to have a combined pool of more than 25,000 drivers. Its fleet - made up of private cars, private-hire cars and taxis - would be the second largest in Singapore, said Ryde.

Trans-Cab is the second-largest taxi operator in Singapore, behind ComfortDelGro.

Ryde founder and Chief Executive Terence Zou told The Straits Times yesterday that more initiatives are in the pipeline, with the company aiming to get a 25% share of the ride-hailing market in the long term.

He said the partnership with Trans-Cab had been in the works for the past two to three months, and necessary clearance has been obtained from the Land Transport Authority. It is expected to benefit both drivers and commuters.

Mr. Zou added, "With more supply (of drivers) on our platform, the prices will be fairer and will not surge crazily to extremes. The drivers can access more jobs and they also can do pooling of passengers."

The social carpooling option, RydePool, is usually used by non-commercial drivers who ferry passengers heading in the same direction. Fares offered on RydePool and its Grab equivalent, GrabHitch, are lower than for normal private-hire rides. This is because the payments are not meant to exceed the cost and expenses incurred from driving a passenger.

Mr. Zou said that allowing taxi drivers access to this option would also let them look for trips that fit their schedules.

Trans-Cab Owner Teo Kiang Ang said, "This opens up new opportunities for us to innovate our services to support our drivers in this rapidly evolving industry. It offers better services and increased earnings to our drivers and a seamless experience for riders."

Mr. Teo told The Straits Times last month that Trans-Cab would be venturing into car financing and leasing. He said then that he expected private-hire dealings to make up 10% of Trans-Cab's business by the end of the year.

Mr. Zou said Ryde will look into partnering other taxi companies, as it explores avenues for continued growth amid competition from well-financed rivals Grab and Gojek. He said the firm is currently close to profitability, and aims to get in the black by the end of next year.