In 2020 and 2021, Ride Tandem increased its year-on-year revenue growth rates by more than 10 times.
Ride Tandem focuses on sustainable commuting services for people who live outside big cities where issues with their local public transport are recurrent, hence, Ride Tandem partners with coaches, minibus, and taxi companies to make commutes cheaper and easier.
The platform encompasses accurate data of the precise daily trips of their average clients to create an exact model of the different places they commute to.
Moreover, with this exponential rise, Ride Tandem is awaiting another £6 million investment in Q4 of 2022.Ride Tandem revolutionises the commuting network and it assists in the generation of £2 million in monthly wages in jobs that would be inaccessible to these workers without Ride Tandem.
This is exciting news for Tandem Ride since it is on the right track to being included in the FT 1000 list as one of the fastest-growing companies in Europe in 2023.This shows that investments making a positive social and environmental change are very popular and gaining traction.
Moreover, a report published by research firm Global Data in 2020 found that more than 1 in 4 high-net-worth individuals’ children when receiving their inheritance will cut off the wealth manager previously used by their parents.
It is paramount to understand that the investment landscape evolves at the same time as generations do, and the investment industry focuses on making positive changes.
Hence, private wealth practitioners, supporting families in their privately wealth-related decisions will need to adapt to support the right needs and expectations of the next generation which will have different concerns such as being more focused on the environment, more involved in good social conditions, and with a big reliance on technology.
This has been highlighted by 1818 Venture Capital’s exits and portfolio of investments in high-growth potential tech companies.
Indeed, 1818 Venture Capital predominantly invested in early-stage companies inclined to have a positive societal and environmental purpose like Ride Tandem and are more present in the investment landscape.
This is very significant considering that younger generations are more inclined to support these types of companies, but it is also financially beneficial since these companies generate great returns.