Heetch raises $12 million to reboot its ride sharing service

Heetch raises $12 million to reboot its ride sharing service

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Heetch is a French Startup and it’s been around for quite a few years now. Everything was going well for the company but it had to begin almost from the scratch again. Heetch was ruled-out operating illegally as a transportation company by the court in Paris, in March 2017. So the company is now raising funds of $12 million from Felix Capital, via ID and Alven Capital to begin its services from the ashes.

Why was it ruled out?

The court ruled out Heetch because it was competing with the professional taxis and drivers on Uber, Chauffeur-Prive, according to the court remarks. For the similar reasons, Uber also shut down the UberPOP services in 2015, in Paris.

Uber Driver Criteria in France

In France, it is important to have a so-called VTC driving license to become an Uber driver. This is the way to create competition among the companies providing taxi drivers and on-demand services. This service has been working successfully as there are thousands of drivers and it’s possible for you to get a ride in less than five minutes time.

What was different in Heetch?

As compared to the UberPOP, Heetch was a bit different in its services. It was focusing on providing late night ride services. It was a great service for those students who were short of money and they had to get back home safely from late night party. Heetch always came up with the same reason of benefiting the students for a safe ride at night and it helped the company stay around for a while. But this came to an end and the company services were ruled out by the court in March 2017.

Heetch Rising Again

After almost 6 months, the company is about to begin its services from the scratch by setting a proper criteria of hiring licensed and professional drivers. To begin again from the ashes, it has raised a round of $12 million funds from different sources.

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