Rider-friendly Ryde gets £2.5m in investment

UK same-day delivery, rider friendly SaaS delivery platform Ryde has secured £2.5 million in funding.

The investment round was led by Forward Partners and Triple Point, with support from existing investors Swiss Founders Fund and Seedcamp.

The raise follows a pivot from their original platform – Gameplan – built to service enterprise clients in the events sector.

Ryde offers fast, same-day delivery of any small item on a hyper-local basis.

“When COVID hit, we had to think on our feet,” said co-founder and CEO Duncan Mitchell. “100% of our customer base went into lockdown overnight, and we were under pressure to find a way forward.

“When we explored last-mile delivery, we discovered a few interesting things. Firstly, the workforce was hugely disenfranchised. Secondly, businesses big and small could not meet consumer demand effectively, and lastly, there was no fit for purpose solution that allowed companies to truly take control of delivery management. 

“We thought these were great problems to tackle.”

One of the core philosophies of Ryde is the ‘rider first’ policy that puts its riders’ wellbeing at the heart of all decision-making. This has involved a complete rethink on how gig workers engage with their jobs and how the management team supports them.

The other co-founder and CTO Tom 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.”

Given that the delivery rider and driver job market is weighted heavily in favour of those doing the work due to a national driver and rider shortage, the careful work on rider relations could well allow Ryde to have more riders where other businesses struggle to get the numbers.

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