Yet another ride-hailing company will be gliding into Singapore. FastGo, a Vietnamese firm, will offer its services in the city-state as soon as April.
Rates for FastGo’s fares in Singapore have not been announced yet, but the company’s founder and chairman Nguyen Huu Tuat has indicated that they will be cheaper than other operators. In particular, there will be no peak period surcharges. Also, FastGo offers an insurance package for customers during their rides.
Drivers who use FastGo to seek passengers will be charged a fixed daily fee of S$6.73 (US$5), with no requirement to pay commission for each ride they provide. The fee will be waived for those who earn less than S$40.40 (US$30) in one business day.
Aside from its home country Vietnam, FastGo also operates rides in Yangon, Myanmar.
The company claims to be the second most popular ride-hailing firm in Vietnam, following Grab. FastGo has 60,000 drivers using its platform in the country, servicing 10 provinces.
FastGo was founded in 2018, after Uber’s exit from Southeast Asia last June. Users can request three types of rides—private cars, taxis, and motorbikes. Like other ride-hailing companies in the region, the company is looking to diversify its services, including food delivery and financial services.
The company aims to enter Thailand, the Philippines, and Indonesia by the end of the year.
Editor: Brady Ng