Get incentives to carpool with Faxi
Toyota Financial Services has takes a majority stake in Faxi, a UK-based start-up that developed an app and software platform for incentivised carpooling.
Through the Faxi app, users can find and connect with colleagues who share the same route to work and commute at similar times. It allows companies to verify employee carpooling in real time and to offer incentives and rewards such as priority parking, to car poolers.
These remuneration policies have proven to be successful: one UK-based customer increased co-worker carpooling from under 10 to over 200 passengers and drivers per month in just six months.
In 2018, Toyota Financial Services decided to start working with Faxi for the development of a Toyota-branded carpooling platform to offer incentivised carpooling in Europe. Toyota is currently running several projects across 6 cities in Europe and 3 around the globe.
Seeing similar needs across cities in Europe, Toyota Financial Services has now decided to invest in Faxi, becoming the majority shareholder. Aioi Nissay Dowa Europe/Toyota Insurance Management also invested, joining existing shareholder the Indigo group.
The ambition is to scale the Faxi platform across Europe and beyond, expanding the current number of cities and projects.
“This is a game-changing technology and we’re excited to get behind it with our brand,” said Doug Gillies, Managing Director, Toyota Financial Services.