7 Facts About Filo, The New Private-Car-Hire App Starting Within The Next Two Weeks

Last Updated on 2018-05-08 , 6:26 pm

I don’t know about you, but I’m still reeling from the loss of Uber in Singapore.

And I don’t even use Uber.

I have always used Grab but ever since Uber left, I now wait longer for rides.

Whether you are a Grab user or an Uber user, you’re probably dealing with some type of frustration at these turn of events.

And if you’re anything like me, you’re probably asking yourself: so now what? do I have to take normal cabs again? are the prices always going to be this expensive? are there any comparable apps that I can use instead of Grab?

I wish I could say I had all the answers for you.

I don’t.

I’m as helpless and confused as you are!

But I come bearing some interesting news.

There is a new Singaporean start-up that has promised to launch its ride-sharing app in the next couple of weeks!

Never heard of them?

I don’t blame you if you haven’t, but the name of the company is…

Filo!

And here are seven things you probably should know about them.

1. It will launch soon

And by soon, I mean in the next two weeks.

Indeed, the ride-hailing app, which was founded just last year, is slated to begin operations within the next two weeks, making it the third such company to move into the point-to-point transportation industry following Uber’s departure.

It will be up against local firm Ryde and India’s Jugnoo, and of course the ever-present Grab.

Two weeks from now means it’ll be here before May ends.

2. Fares will be low

Lower than taxi fares, that is.

According to Filo founder Jason Tan, 41, fares will be lower than those for taxis,and will be within the competitive range of other private-hire car services.

In addition, fares will function based on the old demand and supply system. Or in other words, like every other generic ride-hailing app out there.

3. Incentives

The ride-hailing market in Singapore is a fierce one, with even the likes of Uber having been forcibly ejected. And Filo is clearly aware of that.

To attract drivers, the local startup will collect a 12 per cent commission which will be capped at $400 a month.

To put it into perspective, ride-hailing powerhouse Grab collects a 20 per cent rate, while RydeX collects 10 per cent.

Think it’s attractive? Read on.

4. Short Term Goal of Filo

At present time, Mr Tan is looking for 300 licensed private-hire car drivers to take the wheel, but that could soon escalate to 2,000 by the time of the launch.

Incidentally, he’s reaching out via social media and word of mouth. So if you’re a freelance driver and looking for a job, you might’ve seen it somewhere on your Facebook page.

But to be honest, 300 might be a tad too little #justsaying

5. Start-up capital

Interestingly, the company has a start-up capital of $50,000, as compared to Jugnoo (US$16 million/S$21.3 million), Ryde (US$1.5 million/S$2 million) and Grab (US$4.1 billion/S$5.3 billion).

From the look of it, it seems like a uphill battle based on financial backing.

6. Competition

And with firms such as Singapore’s MVL (Mass Vehicle Ledger) Foundation, Malaysia’s Dacsee and Indonesia’s Go-Jek looking to snap up juices pieces of the pie (all of them are not in the market yet), you can’t help but wonder what Filo could possibly have to break out of the mmould

As it turns out, it does have something. Apparently.

“The passenger-driver (matching) platform is just the start. We will have other more attractive services on the app in the coming days,” Mr Tan said.

That’s interesting to know, I guess.

7. Incentives for passengers

Additionally, he also guaranteed attractive promotions for customers, although he was reluctant to reveal what they would be.

If you think about it, however, every ride-hailing app would surely throw promo codes out of the window upon touchdown. How attractive would a supposedly attractive promotion have to be, in order to attract passengers?

I mean; just look at this.

Each ride-hailing app has its own unique feature, and all of a sudden Filo’s incentive isn’t quite so… inciting anymore. And yet Filo’s founder still stays optimistic despite the company’s lacking start-up capital. As my colleague so aptly puts it:

“Where does he get his confidence from?”

And almost as if it was in answer, Jason had said this:

“Based on my research, as long as there are no more than five players, the market should be able to accommodate all of them. I expect my business to grow along the way.”

I guess only time will tell.

But hey, as a passenger, I couldn’t care less.

Just spam the promo codes, people. I’ll be glad to snap them all up for what they’re worth.

Meanwhile, share this post to let your friends know about the up-and-coming ride-hailing apps. It seems like the Grab-Uber merger has awaken some giants.

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