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Raye7 logo — Raye7, the only working and growing carpool app in the Middl...

Raye7

Raye7, the only working and growing carpool app in the Middle East and Africa.

Founded 2016 Egypt Egypt 9 employees Grant Mobile, Transportation

General Information

Company Name Raye7
Founded Year 2016
Location Egypt Egypt
Employees 9
Industries Mobile, Transportation
Funding Stage Grant
Social

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About Raye7

Raye7 is a rising star in the Mobile and Transportation industries, based in Egypt. The company, founded in 2016, addresses the considerable time and financial costs associated with commuting in Egypt, where individuals spend an average of 3 hours stuck in traffic. This not only impacts productivity and personal time but also contributes to environmental damage, with wasted fuel amounting to 50 billion Egyptian pounds. Raye7 offers a culturally-sensitive ride-sharing service through its mobile application, allowing commuters to connect with trusted colleagues and acquaintances for shared trips, prioritizing security and ensuring an enjoyable, cost and time-efficient ride. Their last recorded financial backing was in the form of a grant investment on 27 April 2017, with backing from GSMA Ecosystem Accelerator. The company's slogan, "Raye7, the only working and growing carpool app in the Middle East and Africa," highlights its unique position in the market. Raye7's innovative approach not only alleviates the burden of commuting but also presents potential opportunities for growth and expansion in the region.

Business keywords: carpool app, Middle East, Africa, traffic congestion, commuting, ride-sharing, cost-efficient, time-efficient, employees, mobile application, traffic reduction, incentives

Funding Rounds & Investors (2)

View All
Funding Stage Amount Investors Lead Investors Date
Grant Undisclosed 1
GSMA Ecosystem Accelerator
27 Apr 2017
Non Equity Assistance Undisclosed 1
AUC Venture Lab
AUC Venture Lab
01 Dec 2016

Raye7 Alternatives & Competitors

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Raye7 vs
Waze
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Raye7 vs
Less (Acquired by Blablacar in 2018)
Less (Acquired by Blablacar in 2018) France

LESS uses instant matchmaking to connect drivers and riders, creating a collaborative carpooling env...

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Raye7 vs
Beast
Beast Estonia

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FAQ About Raye7

Raye7, the only working and growing carpool app in the Middle East and Africa.
Raye7 was founded in 2016.
Raye7 is headquartered in Egypt.
Raye7 operates in Mobile and Transportation. Its work centres on carpool app, Middle East, Africa and traffic congestion.
Raye7 has approximately 9 employees.
Raye7 has completed 2 funding rounds. The latest funding stage is Grant.
Top alternatives and competitors to Raye7 include Waze, Less (Acquired by Blablacar in 2018), Beast, FARA AS. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
Raye7 and Waze are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

Source: BounceWatch company record for Raye7, https://bouncewatch.com/company/raye7, updated 24 December 2024. When citing, please name BounceWatch and link this page.

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