Rydes, a Berlin-based corporate mobility budget platform, has raised €3.5m in a seed funding round headed by Assembly Ventures and Rethink Ventures.
Also participating in the round were Futury Capital and business angel Jens Krüger, chief product architect at Workday. Existing investors include Lufthansa Group, Forward31, the company builder of Porsche Digital, and Arabella Venture Capital, as well as additional angel investors.
Rydes has developed an all-in-one mobility platform for employees offering access to any kind of transportation. Companies provide their teams with a monthly budget that they are able to use via the Rydes app instead of having to pay in advance and submit the costs for ride-hailing and more.
Due to the fully automated integration into the company’s own HR, payroll and tax systems, firms save administrative effort, time and money. Employees, on the other hand, can choose at any time how they want to get to their destination: with shared mobility, public transport, rented bikes or cars, or with fuel or charge cards for their own cars.
Rydes said it is the only provider on the market that automatically offsets the resulting carbon footprint for companies via certified climate protection projects.
The company will use the new capital to further develop its mobility platform and expand into international markets outside of Germany.
Rydes CEO and co-founder René Braun said, “If you’re seeking to attract and keep driven talent, you will need to offer attractive and flexible mobility solutions. Rydes is the first Corporate mobility budget platform to meet these requirements. We offer full-spectrum bandwidth of services, from shared mobility to renting or leasing bikes and cars, fuel and charge cards, and public transport.
“The completion of our seed funding round is a major step on our mission towards becoming the go-to destination for all employee mobility needs, and providing businesses with an attractive, straightforward platform solution.”
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