In a heart-winning move to support taxi drivers, Namma Yatri on Wednesday announced a new initiative aimed at providing financial help to their driver partners.
They launched “Namma Driver Welfare Trust” for their driver partners across Karnataka.
This fund consists of 2% of total revenue generated by Namma Yatri for the qualified drivers, a driver must complete 50-60 rides each month to qualify for the welfare fund.
This development occurred when the ride-hailing company achieved city-level EBITDA profitability in Bengaluru and several other markets as well.
Namma Yatri founder and COO Shan M.S. applauds this launch by expressing his support for the initiative.
He said, “The idea is to have sustainable growth. In the core markets where we are operating, like Bengaluru, we are already city-level ebitda positive.”
Namma Yatri is also planning to expand its operations to further parts of the country.
Initially launched as a commission-free ride-hailing startup, this business model is no longer a unique selling proposition for the startup as its competitors start to adopt this model.
In a recent development, Ola cabs launched this commission-free model nationwide, and the Indian government also announced the launch of the Sahkari Taxi Scheme, which seems to be a bigger attraction for auto-rickshaw drivers.
This ride-hailing market is getting more saturated as more private as well as public competition hits the market, but a recently launched startup, “Go-Go—Go,” is disrupting the market and positioned to be the next big ride-hailing giant.
Read its exclusive story by Startupro.
