Fetii, a Texas-based startup on a mission to revolutionise urban group travel and remove traffic congestion, has announced that they have secured the backing of Y-Combinator, the influential technology startup accelerator.
The support comes in the form of a $500,000 investment, as well as access to valuable guidance and YC community resources. One of those resources is the infamous YC Demo Day.
Twice a year, Y Combinator’s latest batch of startups present to an invite-only audience of approximately 1,500 investors and media. For the S22 batch, that event takes place on September 7th and 8th in which Fetii will showcase to the tech community its disruptive take on group transportation.
Y Combinator partner Brad Flora said Fetti’s unique business and operating models made inviting the company into its fold basically a no brainer, “Fetii uses technology to take the friction out of booking travel for a group of people.
The app makes it seamless for groups to get from point A to B together and handles the awkward task of paying for the ride. Funding this talented team of longtime friends who are already seeing early traction was an easy decision.”
Fetii was created to help resolve the challenges of travelling in groups of six or more, by offering simple, on-demand booking combined with flexible payment options. Rather than requiring groups to pre-schedule an expensive charter vehicle or splitting up and taking several vehicles, the app utilises its network of 15-passenger transit vans that allows them to stay together.
The support from YC follows Fetii’s profitable year in operation, during which the rideshare app transported more than 617,000 passengers in three Texas cities and served major corporate clients, including Deloitte, the University of Texas, Yeti, and Delta Airlines.
“YC has decided to back Fetii because they share our belief that we can become the global leaders in group rideshare,” said Matthew Iommi, Founder, and CEO of Fetii.
“They are here to support us not only with funding but also with the insight needed to grow Fetii and continue to remove unnecessary vehicles from our roads.”
Fetii is a ridesharing company that is committed to aiding group travel. It uses 15-passenger vans to move people and businesses more conveniently and efficiently than other services, reducing traffic congestion while lowering overall greenhouse gas emissions.
Fetii will be joining us at MOVE America which is only a few days away from opening its doors! Fetii’s CEO, Matthew Iommi will be talk about ‘Group Rideshare to reduce congestion, emissions, and costs’. Find out more about Fetii or come and find them in Austin at stand S63!