What do you do if you’re a cash-strapped Uber driver looking to make a few extra bucks without putting in extra hours? Why, you sell goods to passengers, of course. And that is exactly what New York-based Cargo is setting out to enable with its in-car commerce platform for the ride-hailing industry.
Cargo partners with brands across confectionery, electronics, cosmetics, and more to offer riders access to goods such as chocolate bars and USB cables. The company sends a transparent case to drivers, along with the goods, which they place in the vehicle’s front compartment, allowing passengers to see at a glance what’s on offer. The traveler can then make payment using PayPal, Apple Pay, Android Pay, or their credit card through Cargo’s mobile website, using a unique code to ensure payment goes to the right driver.
The story so far
Founded in 2016, Cargo launched last summer in New York and Boston, and later expanded to Chicago before landing in Minneapolis last week. Today, the company announced a $5.5 million follow-on seed funding round from CRCM Ventures, Kellogg’s VC fund Eighteen94 Capital, Techstars Ventures, and a host of other VC firms.
Prior to now, Cargo had raised around $2 million, and with its latest cash injection it said that it plans to expand across the U.S., with a focus on the Midwest and West Coast. The company said that it also has global markets in its sights, having garnered 19,000 “signups” (interested parties) across 23 countries.
Cargo raises $5.5 million
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