Intelligence Lab
Predict the next failure before it happens.
We've turned the data from HerRyde into a stress-test model. Simulate this deal's risk profile in our new Laboratory.
Run a Pre-Mortem
HerRyde
Women's safe ride-hailing service.
- Category:
- Transportation
- Country:
- Nigeria
- Founded:
- 2022
- Cause of Failure:
- Lack of funding
- Outcome:
- Hibernated
- Shut Down in:
- May 2024
- Founders:
- Monsurah Oluwafuyi, Muhammad Muazu, Kamaldeen Ibrahim
- Number of Founders:
- 3
- Number of Employees:
- Unknown
- Funding Amount:
- Unknown
- Last Funding Round:
- Unknown
- Notable Investors:
- Unknown
About HerRyde
HerRyde was a ride-hailing service for women in Nigeria, launched in response to safety concerns experienced impacting women. HerRyde facilitated over 2,000 rides for more than 500 passengers, with a network of 200 registered women drivers, according to HerRyde’s former CEO Monsurah Oluwafuyi in an interview with Bendada.com.
What went wrong?
HerRyde's co-founders decided to “hibernate” the bootstrapped business in October 2023, after a year of operation. "It was a good test phase for us to identify what the key problems were in the industry," Oluwafuyi said. "We found that it was important for us to go back to the drawing board to re-strategise. We are only hibernating so that we can improve our system and get more money."
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