For years, we have known the phenomenon of startups in the taxi sector that focus on bringing in money with great ideas. Investors who see their venture capital burn are regularly found. The Dutch company Get-E International BValready years runs a business travel booking platform, raised € 2,25 million from Amsterdam-based company Axivate Capital at the beginning of this year. Pick up from new investment is often in the medium brought as a new financing for expansion. Like Get-E CEO and founder Alexander van Deudekom describes it himself: 

"To grow the business by expanding to more destinations and developing integrations to other platforms."

Within our Pitane Blue editorial team, we investigated these companies and were surprised by the results. We regularly want to pay attention to the 'startups' that we must embrace - even with state aid - if necessary. Earlier we also asked the CEO of Get-E International for a response, but he did not respond.

zombie companies

Last year was perhaps the worst year ever for most taxi transportation booking platforms. The corona crisis of the past period will not have benefited the already negative equity of these companies. The latest published figures from Get-E International BV, located in Hoofddorp, meanwhile show that EUR 2.733.700 debt and the company is actually - like many thousands of other companies - virtually bankrupt. 

Zombie companies are characterized by years of losses, or they have negative equity - the amount that remains if you paid all debts and sold your assets. Negative equity often means that a company cannot repay its debts, even if all of its assets and knowledge are disposed of. In a healthy, 'normal' market, such companies would probably have long since collapsed, but low interest rates keep the companies a little longer upright.

there is still hope

Alexander van Deudekom's company was founded in 2015 as a sole proprietorship as an online service for mediating transportation to and from airports in European countries. The emphasis was on stimulating the development of a “zero emissionInfrastructure and transport in Europe by acting as an emobility platform. Now, five years later, the company is making a loss more than ever and has remained a relatively unknown player within the Dutch taxi sector.

Axivate Capital actively participates in Dutch and European companies in the field of digital media, e-commerce, leisure, telecom, travel and catering. This applies to both innovative scale-ups and adult companies with hidden potential. There is still hope for the company of the van Deudekom and David van der Wel family now that Axivate takes a seat in the back of their car to discuss, talk, and decide to turn right or left. They go out together.

Also read: Taxi market Flanders embraces Arrive booking platform

Hoofddorp - Antareslaan
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