Women’s ride-sharing startup Shebah embarks on $3 million equity crowdfunding campaign, after male VCs failed to get on board

Women-only ride-sharing startup Shebah is launching a $3 million equity crowdfunding campaign to boost its tech and fuel overseas expansion, and to share the startup’s success with its community of supportive women.

Launched in 2017, Shebah saw 190% year-on-year growth in its user base, turning over $1.8 million in 2018.

Speaking to StartupSmart, founder and chief George McEncroe says the startup’s drivers and passengers are “the backbone of the company”, especially those that came on board early.

“I want to see our drivers and our passengers who stood by us enjoying the fruits of our labour,” she says.

“It would be interesting and fabulous to see being able to grow with us and enjoy being shareholders too,” she adds.

“What a great thing for our women, to be able to have that in our hands.”

However, McEncroe also says she “experienced a fair bit of frustration from standard investment groups” that perhaps couldn’t see a need for Shebah’s services.

While she has had conversations with venture capitalists, they were largely fruitless. This is a new idea, and one that only serves women.

“A lot of people are shy of double-sided markets,” McEncroe says. Read more

Stephanie Palmer-Derrien - Startup Smart - 13 Feb 2019

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