Zypsee Raises $1.4 Million To Compete With Uber And Other Ride-Sharing Services in NYC

 
 
 

Zypsee, a NYC-based black car service, has raised $1.4 million in a funding round led by ff Venture Capital, according to PandoDaily, and isn’t fazed by the competition of Uber, Lyft, Hailo, and GetTaxi.

But maybe they should be.

Zypsee was founded by three former consultants — two from McKinsey — and have no real plan to separate themselves from the crowded playing field, aside from trumpeting their “Made in NY” sticker-of-approval. Of course, given NYC is America’s taxi-capital, this might be a fair leg up.

The minimum fare is $8, with bridge and tunnel fees of $10.50 — overall amounting to 10-20% less than a normal taxi service.

Zypsee has also chosen to enter a legally-grey business. Uber has yet to launch in a municipality without encountering regulatory push-back, as most recently evidenced by the D.C. Taxicab Commission claiming Uber’s vehicles do not comply with sedan regulations.

I have also, anecdotally, heard numerous rumors about Uber not paying employees for weeks on end, while aggressively hiring new drivers; rumors are rumors though.