
GG GBikes: $20M Funds Missing, Failed To Sell To Grab, And Now Their LTA Licence Is Rejected
A Singapore-based investor has agreed to invest $1 million to fund the firm's "new chapter", provided that Gbikes secures the operator's license.
A Singapore-based investor has agreed to invest $1 million to fund the firm's "new chapter", provided that Gbikes secures the operator's license.
Out of the remaining 5 bike-sharing operators, Anywheel, Mobike, ofo and SG Bike have submitted their applications to LTA to obtain their two-year license.
The GrabCycle app will aggregate oBike, GBikes, Anywheel, and Popscoot into a single app, allowing consumers to rent bicycles and e-scooters.
With QR code-based geofencing solution, LTA pressures bike-sharing firms in Singapore to be stricter with users to tackle indiscriminate parking problems.
Since its inception in May, new player GBikes aims to launch 3,000 of its bicycles throughout Singapore by end-September.