AcquisitionRYDE acquired a 40% interest in Atoll Discovery Pte Ltd, a Singapore-based EV rental company, which could provide RYDE with more drivers for its platform and potentially generate other income.
Financial PositionRYDE ended 2024 with S$5.5M in cash and no debt.
Revenue GrowthThe decision to maintain a 0% commission policy for drivers and increase the platform fee charged to riders is estimated to potentially contribute to a 15%-20% increase in revenue.