MEDIA ADVISORY - Toronto-Born Rideshare InstaRyde Gains Massive Funding from Two Major Toronto-Based Backers, Mike Sapir and John Aquino

TORONTO, Dec. 6, 2017 /CNW/ - Investors Mike Sapir and John Aquino have announced that they will be supplying major funding to Toronto-made rideshare company, InstaRyde. "We are excited to have two proud Torontonian investors support our Toronto-based tech startup. This injection of funds will put us on a level playing field with anyone," says Karim Sumar, co-founder of InstaRyde. InstaRyde is a proud Toronto-made, Toronto-based company with a ethos grounded in treating both its drivers and riders well, while providing safe, affordable transportation in and around the GTA.

How is InstaRyde different from other rideshares:

• Rider incentives. InstaRyde has a great incentives programme that ups the rewards the more you drive.
• Riders pay less. Rides cost average about 20% less than other ridesharing services on average.
• No surge pricing!
• Made in Toronto, for Toronto. The InstaRyde team is from Toronto. They love our city, know it well, and have taken the time to listen to riders' and drivers' needs and concerns when creating InstaRyde. They celebrate inclusivity, diversity and changing the ridesharing experience for the better.
• InstaRyde takes care of their driving team (and is hiring now)! Each new driver will benefit from bonuses, starting at $300 for completing 50 rides in 30 days, all the way up to $1000 in additional bonuses, in addition to $100 for each driver referral.
• Due to the overwhelming demand for more drivers, InstaRyde has extended its promotional bonus program to another 1000 drivers. Terms and conditions do apply.
• InstaRyde will offer drivers access to a fuel savings program, with details to follow.
• More money goes to the drivers. InstaRyde takes a flat rate of 99c from the drivers' share for every ride.

About

InstaRyde is a Toronto-based ridesharing app that pays Toronto drivers significantly better than other platforms (they take only 99 cents per ride), and they charge riders less (on average about 20% less) than their competitors. Their intent is to reward drivers and riders for using their service and, in doing so, create a community of ridesharing enthusiasts. They have also created a mandate to give back to their community by donating a portion of each ride to a local charity in need. In short, InstaRyde was created in response to the shortcomings of other ridesharing platforms. Its an on-demand app that puts a safe, reliable and affordable ridesharing experience at the tip of your fingers. www.instaryde.com

SOURCE InstaRyde