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Bidworld Group Limited
A to B for a set fee
Investment closes only once the total pledged amount passes the minimum of £600,000
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BiDCAR London will revolutionise the way a private hire vehicle is booked in London, starting on a ride-now basis, with a pre-booked version soon to follow. BiDCAR will bring together all vehicle types. This includes, the standard car, the iconic London Black Taxi, MPVs and luxury cars.
BiDCAR is designed to offer both customers and drivers a compelling proposition versus Uber, MyTaxi and other ride hailing apps. There are a number of core selling features:
A to B for a set fee
All vehicle types
Ability to tip drivers
Lower commission / better value
Charitable donations on a regular basis
To provide drivers an alternative revenue stream to use alongside existing work to maximize their earnings
Offering customers, a compelling reason to download and use the app instead of Uber is critical – and at the heart of our proposition. We have designed BiDCAR to be simple to use, providing A to B for an agreed great value fee with a lower commission rate for drivers.
The UKs private hire vehicle market is worth £9b. The Department for Transport figures suggest that London specifically accounts for about 1/3 of the national trade. Within the London market, as of June 2017, there are 117,712 licensed private hire vehicle drivers, up from 59,191 in 2010.
Our marketing strategy has two objectives –
Get drivers to sign up and be ready to bid for fares on the app.
Get passengers to download and use the app.
The BiDCAR app can be demonstrated under test flight mode and has already been approved by leading app stores. We expect to launch within 3-4 months of completing this funding round, securing in excess of 1,000 drivers and completing beta testing
We are raising £1M in equity  funding. Funds will be used to complete the A/B testing of the app, fund installation of the Base Station in our City Office where our admin team will provide full support to our driver recruitment department to ensure we are fully TFL compliant. It will also drive marketing towards passenger and driver downloads of the app.
We would expect BiDCAR London Ltd to generate £1.6m in revenue in year 1, growing to £13m by year 3.
Videos illustrating the application are at www.bidcarvideos.com