GetGo Technologies (GetGo), a Singapore-based carsharing platform, has on Thursday announced a SGD20 million ($14.98 million) investment from Treïs, a family-backed investment group.

Treïs’ investment will enable GetGo to accelerate the growth of its electric fleet with a target of 10,000 greener vehicles by 2030, and to strengthen its technology and operational platform, GetGo said in a statement.

GetGo, launched just two years ago on 25th February 2021, now operates over 2,100 vehicles available across 1,400 locations, serving over 50,000 users making more than 150,000 bookings each month.

With no deposit or membership fees, users can easily and flexibly book a car for as short as an hour and as long as five days.

GetGo cars are typically used to take children and elderly to activities, to go out with family and friends, or to transport bulky items.

The cost of using GetGo is based on duration and distance, with fuel, maintenance, and insurance costs all included.

“Our mission is to enable the freedom to drive regardless of each person’s ability or desire to own a car. It is our belief that sustainable and efficient carsharing has a critical role to play in the Government’s vision of a green and car-lite society, which is especially important in Singapore where we have a world class public transportation system and the highest cost of car ownership in the world,

“Treïs’ investment allows us to continue our push towards electrification and extend our technology leadership. By 2030, we aim to serve more than a million households in Singapore, greatly reducing the need for car ownership and realising a significant part of Singapore’s Green Plan 2030,” said Toh Ting Feng, Chief Executive Officer and Co-Founder of GetGo.

Johnson Lim, Chief Marketing Officer and Co-Founder of GetGo, said: “It is heartening to hear parents talking about their kids exclaiming ‘GetGo!’ every time they spot our cars on the road.”

“As a brand, we play an essential part in shaping the mobility landscape for the next generation,

“We are committed to building a mission-driven brand and a user-centric service that empowers people to make sustainable decisions for the environment by sharing, not owning, allowing our users to access a large variety of cars with just an app,” he added.

Jonathan Fein from Treïs said: “GetGo’s mission in shared and sustainable mobility resonates with Treïs’ ambition to help grow solutions for resource efficient economic models.”

“Each GetGo car is shared on average by over 20 different users every month. We were impressed by the vision, the focus, and the quality of execution at GetGo, and we are excited to partner with the team,

“The new funds will enable GetGo to accelerate its growth, investing in technology and operations, as well as to hasten the shift to high-quality electric vehicles,” he added.

Launched in February 2021, GetGo is the fastest growing and largest carsharing platform in Singapore, with over 2,100 cars available across 1,400 locations.

Meanwhile, Treïs is a family-backed investment group with offices in London and Singapore.

The firm partners with entrepreneurs and growth companies leading their industries in the transition to innovative and sustainable economic models, with a focus on resource efficiency.

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