Monday, 7 July 2025
29.9 C
Singapore
33.8 C
Thailand
19.1 C
Indonesia
29.9 C
Philippines

Vietnam’s FastGo prepares to launch its ride-hailing service in Singapore

FastGo, a Vietnamese ride-hailing app, plans to launch in Singapore next month as it looks to expand in Southeast Asia. Drivers can register with FastGo from 1 April, and customers will be able to book rides from 30 April. The entry of FastGo into the Lion City will make the ride-hailing industry more competitive as […]

FastGo, a Vietnamese ride-hailing app, plans to launch in Singapore next month as it looks to expand in Southeast Asia. Drivers can register with FastGo from 1 April, and customers will be able to book rides from 30 April. The entry of FastGo into the Lion City will make the ride-hailing industry more competitive as it is already saturated with ride-hailing giant Grab, Indonesia’s Gojek, Ryde and Tada.

FastGo, part of technology start-up NextTech Group, launched its ride-hailing service in Vietnam in June 2018 after Uber withdrew from the region. It now has approximately 60,000 driver partners in 10 provinces and cities across the country.

After securing an undisclosed sum in a Series A investment from venture capital platform, VinaCapital Ventures, in August 2018, FastGo plans to raise another US$50 million in its Series B investment round over the subsequent few months.

Singapore is the third country for FastGo after Vietnam and Myanmar. The startup plans to enter Indonesia next via Jakarta, followed by Thailand and then the Philippines. Although Grab and Go-Jek dominate the Southeast Asian ride-hailing sector, FastGo has strategic partners, networks and relevant strategies for the region.

Unlike other ride-hailing apps, FastGo will charge its driver-partners a fixed daily subscription fee instead of collecting commission fees. It expects to charge a fee of below US$5 (S$6.80) if a driver’s income exceeds US$30 (S$40.80) a day, and there will be no service fee charged if the driver makes less than that. This strategy will allow it to attract driver-partners and customers at a lower cost.

There is no surcharge during peak hours, and the app allows the customers to offer tips when booking a ride, or opt for priority services.

“Despite of being a follower, FastGo’s model brings the best economic benefit to the drivers and customers. Any FastGo ride will always be cheaper than the others.”

Nguyen Huu Tuat, Founder & Chairman of FastGo

Hot this week

Sony halts Xperia 1 VII sales in several Asian markets due to technical issues

Sony halts Xperia 1 VII sales in several Asian countries after users report shutdown issues, although it remains available in Singapore for now.

Meta’s investment doesn’t change Scale AI’s priorities, says new CEO

Scale AI CEO Jason Droege confirms the start-up stays independent despite Meta’s 49% stake and outlines plans for broader AI growth.

DJI Osmo Action 5 Pro review: Rugged performance meets refined control

DJI Osmo Action 5 Pro delivers 4K HDR video, 40MP photos, and OLED dual screens in a rugged design built for creators in extreme environments.

Seagate Ultra Touch external HDD review: A stylish storage solution with the planet in mind

The Seagate Ultra Touch external HDD offers up to 5TB of secure, stylish storage with USB-C connectivity, built-in encryption, and eco-friendly design.

Mainland investment boom lifts Hong Kong’s market

Chinese firms turn to Hong Kong listings after mainland investors spend US$93B on stocks, eyeing global growth and fresh funding sources.

Windows 11 has finally become the most popular desktop operating system

Windows 11 overtakes Windows 10 in desktop market share as Microsoft prepares to end support for its older system in October.

Sony halts Xperia 1 VII sales in several Asian markets due to technical issues

Sony halts Xperia 1 VII sales in several Asian countries after users report shutdown issues, although it remains available in Singapore for now.

Embedded LLM and AMD launch TokenVisor to boost AI monetisation for GPU neoclouds

Embedded LLM and AMD launch TokenVisor, a platform enabling monetisation and management of AMD GPU clusters for LLM workloads.

Kahoot! teams up with Tour de France to deliver interactive learning experiences

Kahoot! partners with Tour de France to bring interactive cycling-themed learning to classrooms, fan parks, and homes worldwide.

Related Articles

Popular Categories