Arabnet Arabnet

iMENA Holdings just announced a $7 million investment in Rocket Internet’s Easy Taxi, a mobile app that connects drivers and passengers. After its initial launch in 2011, Rocket Internet has sought to establish Easy Taxi in emerging markets. Since its launch in 2011, the service has rolled out in Latin American, African, and Asian countries.

Earlier in the year, Easy Taxi secured funds from Rocket Internet, the Latin America Internet Holding (LIH) and the African Internet Holding (AIH). And now, after the iMENA investment, the app will be brought to the Middle East, starting with Saudi Arabia where it went live today.

"We intend to expand through all the GCC and Levant countries. Next countries will probably be UAE, Kuwait, Oman, and Jordan," explains Khaldoon Tabaza, iMENA’s co-founder and Managing Director.

The app relays customers to the closest cab in their vicinity. Once the driver accepts an order, a confirmation of their name, photo, as well as the car model and plate number are sent back. Additionally, the customer can follow the vehicle’s location in real-time, save favorite addresses, and check the rides history.

"With our strong global partners AIH, LIH and Rocket Internet, as well as our regional partners, including Etisalat Group and their operating companies across the region, we believe, we can redefine the online business in the Middle East and set the path for a successful and profitable future."

The app is currently available in 15 different markets, with two million downloads and a network of sixty thousand taxi drivers.

Competition in the Middle East for Easy Taxi can be found primarily in Dubai, in the form of Careem and Uber, in addition to a government owned taxi booking app. In Egypt, a similar service, 2ogra, received investment from Vodafone Ventures in October of last year.

On their choice to bring in an international company rather than invest in a local alternative, Khaldoon explains that "Easy Taxi has a proven technology platform, business model, and global learnings from its success in more than 16 countries that we can leverage for rapid and efficient execution in MENA."

He also points out the difference between Easy Taxi and the competition: "Easy Taxi is focused on the taxi market, unlike other players who are mostly focused on the limousine market. Easy Taxi has a robust technology platform and draws of global learnings and shared resources from Rocket's and Easy Taxi's global operations, but most importantly, execution will be the key factor in success, and we are confident that iMENA and its partners can provide the required support for Easy Taxi to execute efficiently and win in the Middle East."

This is the second time iMENA takes interest in a Rocket Internet company. Back in September, it invested $8 million in HelloFood. Earlier in the year, it invested in online classifieds portal OpenSooq and flash sales site Desado.