How do you handle the lack of sufficient car parking spaces for workers at your company? Did you know that two-thirds of UK office workers are stressed about workplace parking? This is the challenge Faxi a company Early Metrics rated in April 2017, is solving. Faxi is a private ride share solution using smartphone technology to check vehicle occupancy and allocate parking.
Faxi’s key differentiator is its unique positioning as a virtual transport network company. Faxi enables organisations to implement a solution which provides employees who rideshare with prioritised and reserved car parking. Faxi will also give employees indications about fuel prices and battery powered bikes based upon their location.
The founding partners, CEO Tony Lynch and CTO Francois Plancke bring excellent technical skills, domain expertise in mapping and a thorough understanding of transport market dynamics.
Faxi has access to more than 30K commuter postcodes, although the engagement and number of daily rides are still low. It currently focusses on building the product with the existing customer base and finishing the first full version of the product. The shared mobility business model for sustainability is scalable and repeatable with minimal customisation efforts without the need to acquire vehicles. But getting people to change their commute mode is extremely difficult and there is a strong need for education. Faxi recognises that it is not enough to just financially incentivise drivers.
As customer expectations are shifting to tech-enabled mobility, numerous shared mobility services have emerged. However, corporate ride sharing has not been wide adopted yet. Faxi has a clear lead over Uber when it comes to pricing and avoiding regulation and engagement with cities and taxi operators. The amount chargeable by a commuter driver, who is already travelling to the same destination as their co-worker passenger, is a fraction.
The transport revolution is coming. The introduction of driverless vehicles will open up car mobility to many more people who currently have limited access. In the future, we will get to work in futuristic modular autonomous vehicles or even pods. As Faxi prepares to tackle some of the challenges of the future of transportation and roll out their first contracts with the full park & ride solution, Early Metrics wishes the team all the best!
Team Early Metrics