According to VentureCap Insights, which monitors regulatory filings in Singapore, Ryde, a carpooling company with its headquarters in Singapore, has raised more than US $2 million from family office Octava.
After the transaction, Octava reportedly now owns 70.8% of Ryde.
Ryde was first launched in 2014 by Terence Zou as a social carpooling service. Since then, the company has grown to offer additional services like an online payment platform, insurance purchases, and taxi reservations.
Ryde is also present in Australia, Malaysia, and Hong Kong, according to its website. To draw in more customers, the company introduced an NFT collection last year.