rydesa Berlin, Germany-based employee mobility budget platform provider, raised €3.5m in seed funding.
The round was led by Assembly Ventures and Rethink Ventures, with participation from Futury Capital and Jens Krüger, Chief Product Architect at Workday, and existing investors Lufthansa Group, Forward31, the company builder of Porsche Digital, and Arabella Venture Capital, as well as additional angel investors.
The company will use the funding to further develop its mobility platform and expand into international markets outside of Germany.
Led by René Braun, CEO, Rydes is a corporate mobility platform enabling companies to set up and manage their employees’ entire mobility budget. The system provides access to all types of mobility worldwide: ride hailing, mobility sharing providers, all public transport providers, bike leasing and car subscriptions as well as fuel and charge cards. With Rydes, companies provide their teams with a monthly budget they can use flexibly via the app instead of having to pay in advance and submit the costs for ride hailing, car subscriptions or public transport individually.
The system features fully automated integration with corporate HR, payroll and tax systems. In addition, it automatically offsets the resulting carbon footprint for companies via certified climate protection projects.
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