Heetch SAS

Heetch SAS is a French mobility service provider specializing in ride-hailing applications that connect passengers with drivers, providing efficient urban transportation solutions across various regions. Heetch SAS, founded in 2013 in Paris, France, operates a ride-hailing service aimed at addressing urban transportation needs. The company has pivoted its business strategy to focus on competitive pricing and user experience. The founders, Mathieu Jacob, Mickael Honorine, and Nicolas Lapomarda, have been integral in shaping the company's direction.

Patrick Pedersen currently serves as CEO. Heetch has raised EUR 3. 89 million in Series B funding, with the latest deal occurring on December 11, 2019, from Africinvest. The firm has successfully closed a total of 6 deals, achieving a current company valuation of EUR 145.

095 mn. Heetch is a mobility service provider that primarily offers a ride-hailing application, connecting passengers with professional drivers across various geographical markets. The core product, the Heetch app, is designed for ease of use, allowing customers to book rides conveniently with options for payment via card or cash. The service addresses urban transportation challenges by facilitating quick and reliable travel solutions for everyday users, particularly in major cities such as Paris, Marseille, and Lyon in France, while also expanding operations in other European and North African markets.

Heetch maintains low commission rates of 18%, appealing to both drivers and riders, and emphasizes 24/7 customer support to assist users as needed. Heetch generates revenue primarily through ride commissions, charged as a percentage of the fare collected from customers. The company reported a revenue of EUR 7,112,362. 40 for the year 2017, while also recording an EBITDA of EUR -3,305,821.

80 for the same period. The straightforward transaction structure, calculating ride fares based on distance and time, ensures transparency for both drivers and passengers. The competitive commission rate supports Heetch's strategy to attract a larger client base, consisting of individual riders and professional drivers seeking flexible work opportunities. The user-friendly app encourages repeat usage and enhances customer loyalty.

Heetch plans to utilize the EUR 3. 89 million raised in its Series B funding round to support its expansion into new markets and enhance its technological capabilities. The company aims to launch new product features designed to improve user experience and increase operational efficiency. Specific target regions include additional European cities and markets in North Africa.

The company is focused on these growth objectives over the next few years, following the most recent funding deal concluded in December 2019.