EcoCar
Taxi company providing the possibility to order taxi with predetermined price through an application and a telecentre.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
* | N/A | Acquisition | |
| Total Funding | 000k | ||
| EUR | 2018 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| % EBITDA margin | (50 %) |
| Profit | 0000 |
| % profit margin | (54 %) |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Company filings or news article
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EcoCar S.A. operated as a technology-driven taxi company in Poland, establishing its presence in Warsaw in 2011. The company focused on providing a standardized and high-quality travel experience, distinguishing itself with a uniform fleet of hybrid and electric vehicles, which were replaced every three years to maintain modernity and cleanliness. EcoCar served both individual consumers and a substantial portfolio of over a thousand business clients, offering them a dedicated panel for managing their transport needs.
The company's business model was asset-heavy, as it owned its entire fleet of licensed taxis. Revenue was generated from taxi fares, with various payment methods available. For its drivers, EcoCar transitioned to a model where they paid a flat monthly fee to use the vehicle and the company's infrastructure, which included a proprietary dispatch system. This system was designed to optimize routes, monitor journeys, and reduce carbon emissions. Customers could book rides through a mobile application, a website panel, or a dedicated phone number. The app featured functionalities such as VoIP calls between drivers and clients and tools for corporate clients to generate detailed reports.
In July 2014, EcoCar secured an undisclosed amount of seed funding from the venture capital fund WinVentures, which was a significant milestone in its early development. Over the years, the company expanded its services from Warsaw to other major Polish cities, including Wrocław and the Tricity area. However, the company faced challenges, including difficulties in recruiting enough drivers for its rapidly growing fleet. In March 2024, in a strategic move to consolidate market presence and enhance service availability, EcoCar was acquired by its larger competitor, iTaxi. Following the acquisition, the EcoCar brand and its fleet of approximately 300 ecological cars were integrated into the iTaxi network, aiming to offer clients a broader range of environmentally friendly transport options.
Keywords: taxi service, ride-hailing, corporate transportation, fleet management, hybrid vehicles, electric vehicles, mobile booking app, dispatch system, asset-heavy model, Warsaw, Poland, iTaxi acquisition, WinVentures, ecological transport, business travel, passenger transport, licensed taxi, urban mobility, sustainable transport, transportation technology