Fare Co-op’s groundbreaking rideshare platform combining real-time vetting, always-on safety verification, and community governance to make every ride safer by design, is set to launch in late February 2026.

(Source: https://apnews.com/press-release/ein-presswire-newsmatics/fare-co-op-and-hub-cyber-security-unveil-secureride-the-worlds-first-perpetually-verified-rideshare-platform-ab646493c6def0462d6f98e803bc18df)

LOS ANGELES, CA, UNITED STATES, February 9, 2026 / EINPresswire.com / — Fare Co-op, the driver-owned, city-managed rideshare platform, today announced the launch of Platform 2.0 in partnership with HUB Cyber Security Ltd. (Nasdaq: HUBC) (“HUB”). This update introduces SecureRide™, a proprietary protocol that utilizes real-time, perpetual verification for both drivers and riders. This creates the first continuously validated trust environment in the mobility industry, significantly reducing insurance risks and operating costs.

While traditional rideshare platforms rely on annual background checks that provide only a snapshot of safety – resulting in a report of sexual harassment submitted every 8 minutes in the USA, according to https://every8minutes.com/ – Fare Co-op’s Platform 2.0 offers Perpetual Know Your Driver (KYD) and Know Your Customer (KYC) system, which continuously monitors identity and safety signals, ensuring that the person behind the wheel and the person in the passenger seat are verified in real-time.

The World’s First SecureRide™ establishes a new baseline for industry safety by combining perpetual vetting with mandatory dashcams in all participating vehicles. The system addresses critical gaps in the current rideshare model, where risks often go undetected between periodic screening cycles.

Real-Time Verification Capabilities:

● Motor Vehicle Records (MVR): Instant monitoring of license status, violations, and driving eligibility.

● Criminal & Sex Offender Registries: Continuous cross-checking against national and local databases.

● Global Watchlists: Screening against OFAC, UN, and EU sanction lists.

“We are proud to launch this partnership, which significantly strengthens security for everyone in the vehicle,” said Ahmed Attia, Chairman & Co-founder of Fare Co-op. “Fare Co-op pioneered the driver-ownership model to ensure economic inclusion. With this launch, we are prioritizing the physical safety of the drivers who built this ecosystem and the customers whose trust fuels it. We are making real-time accountability the new golden standard.”

Platform 2.0: A Redesigned User Experience

Beyond security, the Fare Co-op Platform 2.0 app release this month offers a redesigned interface and expanded functionality for Fare Co-op’s decentralized, driver-led network. New features include:

● Ride Bidding & Dynamic Pricing: Enhanced flexibility for longer trips.

● Advanced Preferences: Preferred driver gender selection and favorite driver lists.

● Social Connectivity: Deep-link referral systems and in-app money/credit transfers.

Strategic Impact

The enhanced verification framework is designed to lower insurance premiums by reducing claims exposure, allowing Fare Co-op to position SecureRide™ as a premium service at an affordable price point.

“This is more than a commercial agreement; it is a commitment to public safety,” said Noah Hershcoviz, CEO of Hub Cyber Security. “By deploying Perpetual KYD and KYC with a major industry leader like Fare and its network of over 10,000 verified drivers, we have proven the solution’s scalability. We are confident this will initiate a cascading effect, compelling the wider industry to recognize real-time verification as the indispensable foundation for the future of mobility.”

About Fare Co-op

Fare Co-op is a multi-stakeholder federated cooperative and a leading rideshare provider in the United States, representing a network of more than 10,000 member drivers. The platform operates on a decentralized model managed by local driver leaders, focusing on fair labor practices, community-centered safety, and sustainable transportation.

About HUB Cyber Security Ltd.

HUB Cyber Security Ltd. (Nasdaq: HUBC) is a global leader in confidential computing, AI-driven data fabric, and cybersecurity. HUB’s Secured Data Fabric (SDF) empowers organizations to virtualize, secure, and analyze sensitive data across borders and silos generating real-time intelligence while meeting the highest regulatory standards. With operations across North America, Europe, and Israel, HUB partners with Fortune 100 companies, global banks, and sovereign institutions to secure the next generation of digital infrastructure.

Fare Co-op is officially America’s 3rd rideshare company. The duopoly is broken. The future belongs to the drivers.

(Source: https://apnews.com/press-release/ein-presswire-newsmatics/from-vision-to-reality-fare-co-op-rises-to-become-americas-3rd-largest-fully-licensed-rideshare-in-less-than-12-months-93a357c88f43d017ac6f54fc47e032ca)

Fare Co-op 777 BBQ Celebration in San Mateo

SAN MATEO, CA, UNITED STATES, August 19, 2025 / EINPresswire.com / — The future of rideshare has arrived—and it doesn’t belong to Wall Street, it belongs to the drivers. Fare Co-op, the revolutionary driver-owned federated rideshare cooperative, has officially launched in Georgia and Florida after securing the necessary state licenses. This breakthrough makes Fare Co-op the first and only rideshare platform after Uber and Lyft to operate in three or more states—shattering barriers and cementing its place as America’s 3rd fully licensed and insured rideshare company in less than a year of operations.

Airports & Exclusive Partnerships

Fare Co-op secured permits at LAX and Long Beach Airport, officially launching at LGB on August 1, 2025, with San Francisco Airport on its way. Earlier this year, Fare Co-op also announced exclusive partnerships with the Dolby Theatre and TCL Chinese Theatre in Hollywood, to be going live in the Fall, cementing its presence at two of the most iconic landmarks in Los Angeles.

The 777 BBQ: A Celebration of Explosive Growth

With momentum surging, Fare Co-op celebrated its historic achievements at the first-ever 777 BBQ Celebration on August 5, 2025 in San Mateo. Sponsored by Saba Farm, the event marked the cooperative surpassing an extraordinary trifecta: 7,000 customers, 7,000 drivers, and 7,000 total rides in California. The celebration was organized by Bay Area President Malek Nasher, a co-founder, who was also appointed to the role of CEO of the cooperative’s new buying group for drivers thanks to his incredible work. The event drew hundreds of drivers, their families, and Fare Co-op customers, creating a powerful showcase of community, ownership, and momentum behind the movement.

For the past nine months, Fare Co-op’s managing co-founders have worked tirelessly to build a foundation in California, establishing active chapters across multiple cities while continuing to develop operations and procedural bylaws in anticipation of the cooperative’s first Annual General Meeting (AGM).

The Referral Revolution

At the core of Fare Co-op’s explosive rise is its referral program—a game-changer in the rideshare world. By allocating 25% of net profits directly to referrals, both drivers and riders earn lifetime commissions for building the movement.

This unprecedented profit-sharing system has been the driving force behind Fare Co-op surpassing 7,000 total rides in California alone. More than just marketing, the program redefines growth by ensuring that the community—not corporate investors—reaps the rewards.

What’s Next: Oregon and Arizona

Fare Co-op isn’t stopping. With launches in Oregon and Arizona slated in the coming weeks, the cooperative is on track to expand its driver-ownership model into even more states—proving that this is no regional experiment, but a national movement rewriting the rules of rideshare.

Driver Success Stories & The Road Ahead

At the 777 BBQ, three groundbreaking initiatives were also announced:

1. Rideshare Car Rental Program – Affordable, driver-first alternatives to exploitative corporate rental schemes.

2. Driver & Business Buying Group – A cooperative purchasing power initiative where drivers vote on products (from auto parts to dashcams) to slash costs and maximize value.

3. FareEats – Fare Co-op’s upcoming food delivery platform, allowing businesses to join as full members for a service fee as low as 5% (compared to the 20–35% charged by competitors), while ensuring drivers keep 90% of the delivery fees paid by customers.

A Proud Moment for the Movement

“In just nine months, Fare Co-op has risen to become America’s 3rd largest rideshare company—something no other startup, cooperative or corporate, has ever achieved. By giving drivers 85% of profits, ending surge pricing, saving riders 20% on average, and fueling growth with a referral program that shares 25% of net profits, we’ve turned vision into reality. And soon, through our cooperative model, drivers will even own the very driverless vehicles that were meant to replace them. This is proof that drivers can build, own, and scale a national rideshare movement.” — AJ Attia, Chairman of Fare Co-op

About Fare Co-op

Founded in 2021, Fare Co-op is a driver-owned rideshare cooperative federation that gives drivers up to 85% of the profits from every fare, while reinvesting profits back into members and their communities. Now operating in California, Georgia, and Florida, and with permits at LAX and Long Beach Airport, Fare Co-op is pioneering a new rideshare era: fair, sustainable, and owned by the drivers themselves.

Source: https://www.triplepundit.com/story/2025/fare-co-op-gig-economy/822921

Gig economy drivers say they are working more and earning less. Fare Co-op sees the driver-owned cooperative model as an answer to that problem.

Jun 20, 2025 By Riya Anne Polcastro

Three of the Fare Co-op co-founders — Ivan Olivo, AJ Attia and Danny Golnik — outside of the Uber headquarters in San Francisco, California.

A new generation of cooperatives is looking to revamp the gig economy by returning earnings and decision-making to the workers. But can the worker-owned cooperative model prevent them from falling into the same pitfalls as established ride-hailing and delivery apps?

At first, the tech-enabled gig economy looked promising, offering contractors and customers mutually beneficial services based on sharing their vehicles, talents and time. In practice, it allowed companies like Uber and Lyft to take over markets while investing little to nothing in the workers or the vehicles that generated their profit. With that market dominance secured, gig workers say they are earning less and working more, motivating some to look towards worker co-ops as a solution.

“In the beginning, you could work eight hours and make your $200, $300 a day, and that was great,” said AJ Attia, chairman and co-founder at the driver-owned ride-hailing and delivery platform Fare Co-op. “Today, in order to make that $200, $300, you’re actually working 12 to 16 hours a day. And that’s because of how much they’ve saturated the market with drivers.”

While Uber told the New York Times last month that it hasn’t increased the percentage it keeps from each fare, the company acknowledges that drivers are taking less money home thanks to higher costs. That’s where cooperatives like Fare come in. The platform is owned by its drivers and not beholden to shareholders, so decisions are made by the people behind the wheel.

“We created a federation, and in each city, we have a local that is attached to that federation,” Attia said. “The locals have the ability to do many different things, such as set their own prices in that area.”

Drivers who buy into the co-op earn 90 percent of the ride fares after fees, though this goes down to 85 percent after the payment platform Stripe takes its cut on instant payouts. This higher percentage means drivers could make nearly double what they do through Uber or Lyft, according to a Fare case study.

A referral program also allows drivers and passengers to earn income from referrals into perpetuity, meaning those who refer a driver or passenger to Fare earn a cut every time their referral books or completes a ride. Attia credits Fare’s growth in lieu of a major marketing budget to the referral program. A quarter of the company’s net profits are used to pay out on referrals.

When asked about what all of this looks like in practice, Attia gave the example of a co-op member in Redding, California, who joined three months prior and logs five to 10 rides per day. “He’s actually making double the amount of money that he would be making with Uber,” Attia said. “Then on top of that … He’s making close to another $1,000 a month just from his referrals.”

But what’s to prevent Fare from going the same direction as other apps with too many drivers and too few rides to go around? The company made a commitment to stop accepting new members in a given city when it sees that drivers are logged in for eight hours at a time without reaching a $200 to $300 earning threshold, he said.

As a new operator, the cooperative isn’t at that point yet. Instead, one of its biggest challenges is helping drivers understand the importance of seeking riders through referrals, as opposed to earning through ride fares alone.

“It’s going to take a lot of hard work from all the participants who are involved,” Attia said. “You really have to be out there talking to your customers. Building your own little book, as we say, of customers.”

Fare is growing fast. It’s fully operational in California and applied for licensing in Oregon, Arizona and Georgia. It was also contracted as the official ride-hailing platform for both the TCL Chinese Theatre and the Dolby Theatre in Hollywood, California. “We had no idea that we would have been doing that within seven months of us launching,” Attia said.

The cooperative is also rolling out Fare Eats, Attia said. The food delivery option operates under the same cooperative model, with member businesses charged 5 percent for each delivery. That’s a significant drop from Uber Eats, which takes a 15 to 30 percent commission, raising operating costs for retailers and prices for consumers.

In addition to lower prices, Fare’s 2023 pilot in Canada suggests consumers might get better service as well. The pilot lasted for a year and involved more than 80,000 deliveries with almost no chargebacks, Attia said. He attributes the high accuracy rate to the cooperative model and the ownership that comes with it.

“They really took pride in what they were doing,” Attia said. “They made sure that the orders were right. When they would deliver the food, they said, ‘Listen, just make sure that the food is okay. If there’s any problem, I’m going to go and change it for you.’”

The founders hope this model allows gig workers to secure their futures through ownership, higher pay and better working conditions. But it’s also in preparation for a future with driverless vehicles. Fare aims to empower its drivers to finance and own those vehicles instead of being replaced by them, while still supporting those who want to drive for as long as they can. Attia said he sees the potential for the Fare model to protect workers across industries in this way.

Danny Golnik, a co-founder and chief operating officer at Fare, agreed. “If we’re successful in applying this model to the rideshare and the gig work industry, then it can be applied to many other industries that are affected by automation.”

(Source: https://ktla.com/business/press-releases/ein-presswire/797479604/fare-co-op-named-official-rideshare-partner-for-dolby-theatre-tcl-chinese-theatre-in-hollywood/)

Fare Co-op partners with JEBS Hollywood Entertainment & New Chinese Theatre Holdings as the official rideshare for Dolby & TCL Chinese Theatre in Hollywood

LOS ANGELES, CA, UNITED STATES, March 27, 2025 /EINPresswire.com/ — Under this agreement, Fare Co-op will be the official Black Car and Rideshare partner for both Theaters, offering guests a seamless, luxury transportation experience through the Fare Co-op app at a significant discount from the incumbents. This partnership will ensure premium, reliable, and affordable rides, while paying the drivers significantly more, for the many high-profile events hosted at these venues.

TCL Chinese Theater in Hollywood, an historic landmark known for its iconic forecourt of celebrity handprints and footprints and hosting glamorous film premieres since 1927.

Transforming Hollywood’s Rideshare Landscape with Fare Co-op’s App

Through the Fare Co-op app, both theater guests and the general public will enjoy an affordable, fair, and transparent alternative to traditional rideshare services. Unlike Uber and Lyft, which are known for surge pricing and high service fees, Fare Co-op:

• Lowers costs for consumers by eliminating surge pricing while still offering premium Black Car and rideshare services.
• Pays drivers up to 90% of each fare, ensuring that all driver partners providing the service make even more money than what they would make during surge with Uber and Lyft.
• Gives its driver-owners a voice and a share in the business, fostering a cooperative model where members collectively shape the future of the platform.
• Offers a clear plan for the drivers to own the driverless vehicles that will replace them in the future, rather than being displaced by the likes of Uber and Lyft.

By integrating tech-driven efficiency with cooperative ownership, Fare Co-op is building the future of fair, driver-owned transportation—and this partnership with two of Hollywood’s most iconic venues is a major milestone toward that vision.

Quotes

Elie Samaha, manager of both theaters, stated:
“This partnership with Fare Co-op is a natural extension of our commitment to innovation and excellence. By integrating the Black Car rideshare service into our venues, we are setting a new standard in guest experience that aligns perfectly with our legacy at the Dolby Theatre and TCL Chinese Theater, with the highest quality of service made possible thanks to Fare Co-op’s driver ownership model.”

A.J. Attia, Chairman of Fare Co-op added:
“We are thrilled to bring Fare Co-op’s mission of fairness and sustainability to such iconic venues. This is a step forward in proving that the rideshare model can work differently—one where drivers are paid fairly and have equity, customers pay less, and innovation serves everyone, not just big corporations that are ready to dismiss the drivers that helped build their massive companies, only to be replaced with autonomous vehicles, throwing the drivers to the curb.”

About the Companies

Fare Co-op (Local Driver Federation Cooperative):
Fare Co-op is a driver-owned cooperative dedicated to redefining the rideshare model by prioritizing fairness, transparency, and community empowerment. With a mission to provide sustainable mobility solutions and give drivers real ownership in the future of transportation, Fare Co-op is paving the way for an industry where drivers aren’t replaced by automation but own the technology that will shape it. Learn more at fare.coop.

JEBS Hollywood Entertainment LLC owns and operates the renowned Dolby Theatre, a premier venue in Los Angeles for live engagements and film premieres. New Chinese Theatre Holdings LLC owns and operates the historic TCL Chinese Theatre on Hollywood Boulevard with a forecourt including hand prints of movie celebrities for the last 100 years.

Source: https://finance.yahoo.com/news/driver-owned-ride-hailing-booking-010000925.html

Fare Co-op empowers gig workers and drivers by providing them with alternative employment opportunities, skill development, and a stake in the local mobility market.

TORONTO, June 18, 2024 /PRNewswire/ — Based upon the transformative technological advancements, Direct Global is pleased to announce the launch of a visionary international cooperative with the foresight to adapt and thrive beyond the era of autonomous vehicles. This hybrid cooperative/corporate approach aims to create a fairer, more sustainable future by giving drivers a direct stake in the company.

“Powered by a groundbreaking driver-owned ride-hailing and taxi booking platform, Fare Co-op is set to transform the transportation industry with its innovative model offering ownership and equity to drivers,” explained Ahmed Attia, founder and CEO of Direct Global. This hybrid cooperative/corporate approach aims to create a fairer, more sustainable future by giving drivers equity in the company.

Fare Co-op brings its driver-centric model to major urban centers targeting taxis, black cars and other livery vehicles. In California, Fare Co-op will be launching fully to all drivers including ride-hailing.

Unlike traditional ride-hailing platforms, Fare Co-op is a multi-stakeholder federated cooperative prioritizing the interests of its member drivers, who gain a voice in shaping the platform’s future.

“As robo-taxis begin to navigate our streets, this cooperative stands as a beacon of sustainable innovation, ensuring that the march of progress leaves no one behind. It represents a collective commitment to a future where technology enhances human livelihoods rather than diminishes them, setting a new standard for how industries can evolve without forsaking their workforce,” said Edward Escobar, founder of the Alliance for Independent Workers and the #DriversUnite movement.

Fare Co-op’s model adapts to the evolving transportation landscape, especially the shift towards driverless vehicles. Fare Co-op is committed to helping drivers finance these vehicles through their equity in the co-op, ensuring they can continue earning, unlike other platforms that will throw their drivers to the curb in their move towards automation.

Fare Co-op distinguishes itself in a market dominated by Uber and Lyft by reducing rates by 20% compared to Uber, benefitting customers with lower fares while ensuring drivers receive 90% of the fare, promoting sustainable income for drivers.

For customers, Fare Co-op offers significant advantages. With rates 20% cheaper than Uber, passengers enjoy cost-effective rides with superior safety and customer service. By choosing Fare Co-op, customers support a driver-owned platform valuing fairness and sustainability.

The platform, launching in multiple languages (English, Spanish, French, Arabic, and German, with many more to be added), includes features such as a referral program, preferred driver requests, a fleet management portal, and an integrated wallet, among others. Safety is a top priority, with only verified drivers who pass rigorous background checks allowed on the platform. The platform employs advanced AI to learn to identify and address potential safety risks, ensuring the well-being of both drivers and customers. The platform also integrates emergency services and proactive safety features to maintain a secure environment for all users.

The equity structure was developed by the Fare Co-op team, including Ahmed Attia, founder and CEO of Direct Global, Nicholas Thadaney, former President CEO of the Toronto Stock Exchange, David Olsen, Chairman of the American Chamber of Commerce in Canada, Edward Escobar, founder of the Alliance for Independent Workers and #DriversUnite and current CEO of Local Driver Co-op Federation (Fare Co-op), Jeffrey Steiner, former President and CEO of the Toronto Economic Development Corporation, and Alessandro De La Torre, head of Social Media for the United Nations. This model is based on VISA’s multi-stakeholder federated cooperative model created by Dee Hock in 1967, which led to the largest IPO in U.S. history in 2008.

“By empowering drivers with ownership and equity, Fare Co-op aims to redefine the ride-hailing industry, fostering fairness and sustainability. As it launches in North America, investors, customers, and drivers can anticipate a revolutionary platform that truly prioritizes the needs of those who make it possible,” added Ahmed Attia.

LOS ANGELES, CA – May 10, 2024 – Fare Co-op, a leading cooperative in the ride-sharing and delivery sector, today announced its strategic alliance with the Spur Innovation Center in Quebec, Canada, marking a significant leap in enhancing its AI-driven technological capabilities. This partnership propels Fare Co-op to new heights in operational efficiency and cost-effectiveness, setting it apart from industry giants such as Uber and Lyft.

The collaboration with Spur Innovation Center in its state-of-the-art artificial intelligence innovation and data center, equips Fare Co-op with superior AI resources. These advancements facilitate smarter route planning and precise matching of drivers with passengers and delivery services, ensuring maximum vehicle utilization and minimal operational costs.

Fare Co-op’s AI technology, bolstered by Spur’s infrastructure, excels in integrating package delivery with passenger transport. This dual-service approach enables drivers to maximize earnings through efficient routing that aligns delivery and ride-sharing services without unnecessary detours (DeepAI).

By employing predictive analytics, the AI system anticipates demand patterns across different areas, optimizing the deployment of vehicles and reducing wait times for customers. This proactive management helps maintain an ideal balance of supply and demand, significantly lowering Fare Co-op’s overhead costs compared to conventional ride-sharing services (Fare Co-op).

Drivers benefit from Fare Co-op’s model by keeping 90% of the delivery fees, while local businesses enjoy reduced service fees versus those charged by competitors, fostering a healthier local economy (Fare Co-op).

As Fare Co-op continues to expand, the technological edge provided by the Spur Innovation Center will play a pivotal role in transforming the gig economy, promoting fair employment practices and sustainable business operations.

For additional information about Fare Co-op’s revolutionary services, visit Fare Co-op’s website.

Contact Information: Media Relations, Fare Co-op Email: info@fare.coop Phone: 416-836-4455

About Fare Co-op: Fare Co-op is the first of its kind, a hybrid corporate/cooperative ride-hailing and delivery platform committed to transparency and fairness. It aims to reshape the future of gig work, ensuring the well-being of drivers and local businesses through innovative, AI-enhanced services. The partnership with Spur Innovation Center underscores Fare Co-op’s commitment to employing leading-edge technology to improve service efficiency and support community-oriented business models.

Driver-led cooperative effectively postpones the launch of Cruise and Waymo’s autonomous vehicles, advocating for drivers’ rights and welfare (source: https://www.bloomberg.com/press-releases/2023-07-13/disrupting-the-disruptors-fare-coop-local-driver-co-op-federation-halts-robotaxi-rollout-in-san-francisco)

SAN FRANCISCO, CA – Edward Escobar, CEO of Fare.Coop/Local Driver Co-op Federation and the founder of #DriversUnite/The Alliance for Independent Workers, has led a successful protest coalition against the rapid introduction of autonomous vehicles in San Francisco. The Local Driver Co-op Federation, a cooperative championing the rights and welfare of drivers and gig workers in the face of increasing automation, has supported postponement of the deployment of Cruise and Waymo’s round-the-clock Robotaxi services on San Francisco streets. With mounting public pressure, led by Drivers, the state regulator CPUC has rescheduled the hearing twice already which favors the goals of the protest coalition, whose mission is to guard against the potentially devastating impact of automation on millions of drivers’ jobs.

The Federation’s commitment to the cause of drivers, underlines its dedication to preserving drivers’ integral role in shaping the future of transportation. Inspired by VISA’s multi-stakeholder cooperative, which orchestrated the largest IPO in U.S. history in 2008, the Local Driver Co-op Federation consistently champions the rights and welfare of drivers and gig workers. This success reinforces the Federation’s determination to stave off the job-loss risks automation might pose.

“We aim to provide a competitive, fair alternative for consumers saving them 20% per mile compared to the incumbents while paying drivers 90%, preparing for a just and balanced transition to automation. We believe that our driver partners should have ownership in the driverless vehicles that could potentially replace them,” said Mr. Escobar.

This news follows closely on the heels of the Federation’s announcement at Collision in Toronto, where they shared their plan to raise $26M in a Series A funding round. This revelation was a highlight of Collision, further cementing the Federation’s stature as an impactful force in the transportation industry.

Reflecting on the potential ramifications of this technological shift, Ahmed Attia, Co-Chair of the Federation and CEO of Direct Global, said, “We have seen the traumatic repercussions of disruption in the past – taxi medallion holders taking their own lives, losing homes, and destroying families. This emerging wave of disruption poses a threat to tens of millions of gig workers in America. We’re not opposing the technology; rather, we welcome it. However, we demand an equitable chance to present our alternative, with government backing akin to what the incumbents receive, often at voters’ expense. Once we’re able to compete effectively, we are open to driverless vehicles operating around the clock.”

The Local Driver Co-op Federation is committed to ensuring a just and balanced transition to automation. They are devoted to granting drivers a stake in the future of transportation, thereby safeguarding jobs and influencing the industry’s trajectory. As a partner of the United Nations’ Sustainable Development Program (UNSDG), the Federation aligns with goals #8, #9, and #11.

To learn more about Fare.Coop and the Local Driver Co-op Federation, visit www.fare.coop and www.localdriver.coop

About Local Driver Co-op Federation
The Local Driver Co-op Federation is an innovative, driver-led cooperative dedicated to preserving the rights and welfare of drivers and gig workers amid rising automation. Inspired by VISA’s multi-stakeholder cooperative, the Federation is committed to ensuring drivers maintain an influential role in the future of transportation.

Direct Global is Proud to Announce Fare.Coop is Kicking off $26M Series A Funding Round, Eyeing Expansion into Seven Major Cities with its Revolutionary Cooperative Ride-Hailing and Delivery Model (source: https://collisionconf.com/media/press-releases?tab=1)

TORONTO, June 26, 2023 — Direct Global’s pioneering efforts in spearheading and financing multi-stakeholder cooperatives are reaching new heights as they announce the start of Fare.Coop/Local Driver Co-op’s Series A funding round. The ambitious goal is to raise $26 million, enabling the expansion of their innovative services to major urban centers like Los Angeles, New York, Toronto, and others. This expansion aims to reach tens of millions of consumers through Fare.Coop’s disruptive federated cooperative model, which is comparable to the transformative impact of VISA on the financial industry in the late 1960s, leading to the largest IPO in American history in 2008.

Fare.Coop has achieved significant milestones, including successful pilot projects in Canada and the enlistment of nearly 40,000 drivers and delivery couriers across the United States and Canada. This growth reflects the increasing demand for a fair and equitable gig economy.

To further enhance their services, Fare.Coop has strategically partnered with #driversunite, an alliance advocating for the rights of independent workers and representing millions of drivers globally. They have also joined forces with the Rideshare Drivers Network from Australia, a co-founder in the International Alliance of App-Based Transport Workers, representing drivers from various countries. These partnerships pave the way for Fare.Coop’s launch in multiple markets.

Fare.Coop sets itself apart by offering not only exceptional service but also equitable pricing. While traditional platforms charge businesses fees ranging from 20% to 35%, Fare.Coop operates with a modest 5% fee structure. This reduction enables restaurants to significantly lower their online prices, benefiting both businesses and consumers.

Moreover, Fare.Coop’s ride-sharing service is priced approximately 20% lower per mile/kilometer compared to competitors, ensuring drivers receive 90% of their earnings. By granting drivers equity, Fare.Coop empowers them to finance and own autonomous vehicles in the future. This commitment to fairness and equality positions Fare.Coop as a formidable contender against conventional gig economy platforms.

With its groundbreaking approach and remarkable achievements, Fare.Coop is now seeking Series A funding. Direct Global, a founding partner of Fare.Coop, is optimistic that investors will recognize the platform’s immense value and untapped potential.

“Boasting an exclusive alliance with #driversunite, which represents millions of drivers, and comprehending that traditional firms spend thousands per driver for acquisition, Fare.Coop already has a fully operational platform with close to 40,000 registered drivers in Canada and the USA and unparalleled customer and vendor ratings. This potent combination presents a compelling case for discerning investors. It’s clear that incumbent players would be reluctant to erode their margins to compete with our low pricing structure, given their high overheads. Moreover, they are unlikely to share equity with their drivers, a step Fare.Coop has already taken to ensure the future for the gig workers. Considering these factors, Fare.Coop emerges as the clear investment of choice,” asserted Ahmed Attia, CEO of Local Driver Co-op.

Direct Global’s endorsement by the United Nations’ Sustainable Development Program further solidifies their commitment to fulfilling Sustainable Development Goals #8, #9, and #11, focusing on inclusive economic growth, resilient infrastructure, and sustainable cities.

Source: https://torontosun.com/news/local-news/drivers-make-more-businesses-pay-less-with-direct-local-eats