Freeride HK Secures Investment from Leading Mainland Ride-Hailing Platform, to Significantly Expand in the Hong Kong Market
Freeride HK is excited to announce today that we have secured funding and technological support from a leading mainland ride-hailing platform. This collaboration not only brings financial and advanced technical support but also reaffirms our status as an innovative and dynamic local brand. Through the Freeride ride-hailing app, we aim to significantly expand our service offerings in the Hong Kong market, thereby providing innovative, convenient, cost-effective, and reliable travel options.
Starting from April 2024, Freeride underwent a significant business restructuring. Building on our popular Pews’Ride pet-exclusive ride service, we expanded and innovated our business by adding "Fast Travel" and "Caring Service" options, allowing regular users to also benefit from Freeride's services. These changes have transformed us into a comprehensive local ride-hailing service provider, offering a more diverse and complete range of travel options to the residents of Hong Kong.
We encourage owners of private cars and light vans to register as our partners, which not only allows drivers to better utilize their idle time and resources but also provides users with the convenience of hailing a ride anytime, anywhere. Point-to-point transportation services have become common in major modern cities, and we hope to see continuous improvement in Hong Kong. With Freeride's extensive experience and data in ride-hailing, combined with precise AI algorithms, we are committed to monitoring the status and quality of service from our driver partners to provide a more convenient and comfortable travel mode for users.
Additionally, Freeride has also taken significant steps in innovating advertising services. We leverage the large number of vehicles in our fleet as a mobile advertising platform, offering vehicle wrap and in-app advertisements to advertisers, providing a new opportunity for brands to create visibility and interact with users. By integrating ride-hailing with advertising, Freeride has become an innovative platform for brand promotion, creating win-win opportunities for drivers and advertisers alike. We believe this innovative advertising business model will bring further growth and success to Freeride, while injecting new vitality and potential into Hong Kong’s advertising industry.
At Freeride, we firmly believe that as the era progresses, transportation methods should also evolve with technological advancements to address current shortcomings and enhance user experience. With the number of private cars in Hong Kong far exceeding taxis, there lies great potential and possibilities. We aim to transform this potential into tangible benefits through our platform, thus creating greater value for Hong Kong's transportation sector.
Our investors chose to collaborate with Freeride based on our outstanding performance in the pet-exclusive ride service and the belief that now is the optimal time to improve transportation services in Hong Kong by providing more options. According to a confidentiality agreement, the investor's brand will not be disclosed or directly enter the Hong Kong market. They will provide financial and technical support to Freeride, assisting our local research and development team in designing and updating the application, closely aligning with the needs of local users and enhancing the travel experience. This not only ensures the localization and professionalism of our services but also demonstrates confidence in our ability to meet the unique market demands of Hong Kong.
