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VTC in France, Eurecab mobilises for its drivers

Eurecab is the first affordable, environmentally friendly and ethical French network for VTC and independent drivers. The online comparison and booking platform of VTC and private drivers is launching an operation on behalf of its drivers. Indeed, in order for each driver to be able to build up capital, the company now puts part of its capital for the drivers partners. Contributing to the success of the start-up, they now have the opportunity to build up capital and thus secure their future.

In addition, the VTC sector in France continues to evolve. Between a growing demand for traditional taxis and a health crisis impacting the sector, the VTC market is constantly innovating to adapt to the best.

Eurecab, sharing the value of capital with its VTC partners

Eurecab is a Parisian start-up founded by Theodore Monzies and Cédric Van Daele in 2015. Indeed, it is the only online comparison and booking company of VTC and private drivers in France. Eurecab only takes bookings through the website open since 2015 and its mobile app since 2017. It now has more than 100,000 customers in the country, with a desire to expand internationally. Thus, via Eurecab, customers have access to all the offers available according to their routes.

Indeed, they have the choice on the type of drivers, in other words private drivers or drivers from the different PLATFORMs of VTC. They also have a choice on fares but also on vehicle categories. The possibility of booking in advance allows users to be comfortable, allowing them to travel efficiently.

eurecab private vtc drivers
Eurecab integrates various VTC companies and independent drivers into its service.

In an initiative to promote the creation of capital for partner drivers, Eurecab launched an unprecedented operation in November 2020. Indeed, the start-up has set up the sharing of the value of its capital with its driver partners. As a result, 43 drivers who are partners of the platform have now received part of the value of the capital. The aim of this approach is to reward drivers who contribute to Eurecab’s success. For this operation, the start-up uses blockchain technology. Part of Eurecab’s capital is transformed into Tokens. To get an order of ideas, 10 tokens is equal to an Eurecab action. These tokens are then redistributed to drivers based on their customer input and the quality of the service rendered.

Evolution of the VTC offer, a market in constant motion

The VTC sector has grown strongly since 2011 with the arrival of Uber France, a subsidiary of the American Uber. The success of the sector, due to a significant demand for mobility, was not covered by the offers put in place. Indeed, the solution of VTC, with the ability to book quickly and via a mobile application pleases users. Thus, 97% of VTC users are satisfied with the race, in terms of quality, price and speed. This market represents more than 800 million euros in sales. As a result, taxis no longer have a monopoly on the movement of individuals. Users now have access to a wide range of solutions for their travels. This is where Eurecab comes in to help users make the right choice based on their decision criteria.

However, the health crisis in Covid-19 has had an impact on this buoyant sector. Indeed, the containments but also the curfews put in place have been real obstacles to the activity of the VTCs. The reduction in travel, the much smaller flow of tourists, the closure of restaurants, bars and nightclubs were the cause.

Nevertheless, despite the reduction in activity, they still continued to operate. As a result, they had to adapt to the new health guidelines. For example, by condemning the seat next to the driver, by wearing the mask required throughout the journey, but also by disinfecting the surfaces after each customer.

Despite the return to proper activity, the sector cannot erase the shortfall of 2020.

Sources:

VTC in France: these players who are mobilizing, Eurocab, press release of January 2021

What is a token?Blockchain France, May 22, 2018

The VTC market in France, BCG

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