<article><a style="color: #000080;" href="https://www.u-hop.com/" target="_blank">U-Hop</a>, an app-based ride-sharing service in the Philippines, has secured investments in the region of $7.4 million with which it will expand its operations in major cities in Asia.</article>

<a style="color: #000080;" href="https://www.u-hop.com/" target="_blank">U-Hop</a>, an app-based ride-sharing service in the Philippines, has secured investments in the region of $7.4 million with which it will expand its operations in major cities in Asia.
The latest development follows U-Hop&#8217;s legal-accreditation by the Philippines&#8217; <a style="color: #000080;" href="http://ltfrb.gov.ph" target="_blank">Land Transportation Franchising and Regulatory Board (LTFRB)</a> last week. It is now the third ride hailing app in the country to get the approval, after Uber and Grab.
According to a <a style="color: #000080;" href="https://www.techinasia.com/" target="_blank">Tech in Asia</a> report, quoting U-Hop founder Marvin Dela Cruz, the transport app received $2 million from a Philippine corporation with diversified interests. They also signed up $5.4 million with a Manila-based boutique investment banking firm Asian Alliance Investment Corp, according to the report.
Armed with the funding, U-Hop is now looking beyond its home market to service geographies such as Japan, Singapore, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, China, and India.
Also Read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/philippines-transport-board-puts-brakes-grabjeep-tags-illegal-33071/" target="_blank">Philippines transport board puts brakes on GrabJeep, tags it ‘illegal’</a>
The firm will also invest in hiring a larger team, IT infrastructure and in forging new partnerships.
U-Hop claims around 550,000 passengers now regularly take its shuttle service. Compared with rival ride hailing apps Uber and Grab that accommodate one user at a time in every vehicle, U-Hop utilises vans which allow seven commuters on a single trip.
The company&#8217;s shuttle service currently covers Metro Manila, Metro Cebu, and also the provinces of Bulacan, Rizal, and Laguna.
U-Hop also offers &#8220;luxury services&#8221; like charter planes, choppers, yacht, including Jet Ski.
The all-Filipino corporation is a pilot project of <a style="color: #000080;" href="https://www.shangrilacars.com/" target="_blank">Shangrilacars</a>. Its app is able to monitor the computer box of each of its U-Hop vehicles so they can check fuel, door lock, location and speed. The company can control the computer box to stop a vehicle&#8217;s functions in case it is stolen.
Also Read: <a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/grab-philippines-stops-grabbike-operations-heeds-transport-boards-order-29770/" target="_blank">GrabBike suspends services in Philippines. Refutes authorities claim its operations are ‘illegal’</a>
U-Hop is partnered with over 39 banks to make it easy for customers to pay for using their services. Aside from its scheduled and paid for in advance trips, U-Hop offers an on-demand option metered like an ordinary taxi service that charges a fixed rate.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/philippines-becomes-first-country-to-legalise-ridesharing-services-sg-passes-bill-to-regulate-third-party-taxi-apps-6317/">Philippines becomes first country to legalise ridesharing services; SG passes Bill to regulate third-party taxi apps</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/ubermoto-launched-in-bangkok-31885/" target="_blank">Uber kick-starts motorbike taxi service with Bangkok as global launch pad</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/malaysias-grabtaxi-kicks-off-courier-biz-in-philippines-15525/" target="_blank">Malaysia’s GrabTaxi kicks off courier biz in Philippines</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/grabtaxi-invests-6m-in-safety-features-to-be-rolled-out-regionally-14868/" target="_blank">GrabTaxi invests $6m in safety features, to be rolled out regionally </a>

U-Hop, an app-based ride-sharing service in the Philippines, has secured up to $7.4 million seed funding. 

Manila's ride-hailing app U-Hop raises $7.4m, to expand to Asian markets

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Manila's ride-hailing app U-Hop raises $7.4m, to expand to Asian markets

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief