HOVR Announces New On-Demand Rideshare Service Designed To Address The #1 Issue In The Industry Today, Driver Dissatisfaction And Need For Higher Pay

HOVR announces its new on-demand rideshare service now available in Toronto ON, and the Greater Toronto Area (GTA). The start-ups innovative business model focuses on the #1 problem in the rideshare industry today which is driver dissatisfaction and the need for higher pay, and is dedicated to providing a more equitable rideshare service where driver's earn 100% of their fare and participate in a monthly subscription-based program to access HOVR's proprietary app platform.

TORONTO, May 2, 2024 HOVR, the new on-demand rideshare service, announces the official launch of its business on May 2, 2024 servicing Toronto and the Greater Toronto Area (GTA). The start-up company's innovative business model features a driver-based subscription plan, state-of-the-art mobile app, top cyber security encryption, and a safe ride experience where Drivers Earn More and Riders Pay Less.

With the tagline "100% Fare is 100% Fair," HOVR is dedicated to providing a transparent and equitable rideshare service where driver's earn 100% of their fares and pay a flat monthly fee to access HOVR's proprietary app platform, while drivers can see what riders pay and riders can see what drivers get paid. "Our mission at HOVR is to create a fair and equitable rideshare service for both drivers and riders," said the company's Founder and CEO Harrison Amit. "We believe that our membership-based model combined with our transparent payment platform, provides the best way to achieve this, as it allows us to guarantee better pay for drivers and lower costs for riders creating a mutual benefit for all".

"Our mission at HOVR is to create a fair and equitable rideshare service for both drivers and riders," said the company's Founder and CEO Harrison Amit. "We believe that our membership-based model combined with our transparent payment platform, provides the best way to achieve this".

With Safety being of great concern in the industry, the company is also committed to providing a safe and secure environment for both drivers and riders, and has implemented a rigorous screening and validation process for all drivers. "We understand that safety is a top priority for our riders, and that's why we have put in place a thorough screening process for our drivers," said Muna Abdi, COO at HOVR, where our riders can trust HOVR and feel confident and comfortable when using our service". According to Milton Brady (HOVR Driver), "The arrival of HOVR comes at a time of great driver need for financial wellbeing, in a current rideshare environment where the big 2 take between 25-40% of our ride fare leaving little for the driver. On top of this, most riders never see what the driver actually receives from their ride fare".

HOVR Driver sign-ups have been brisk with over 5,000 Drivers applications received to date, and is currently accepting applications from drivers who are interested in joining the platform. Because the maximum number of drivers is capped at 5,000, a wait list has also been created on ridehovr.com to allow more drivers to participate after the official launch date.

HOVR is excited to be a part of the larger Toronto transportation ecosystem, and is working with local government offices and municipalities to ensure it meets or exceeds city licensing requirements and guidelines.

About Ride HOVR Corp

HOVR is a Toronto, Ontario-based rideshare company committed to revolutionizing transportation by making it more transparent, accessible, and equitable for all. Founded in 2019 by Harrison Amit, HOVR stemmed from Harrison's conversations with drivers during daily commutes to various meetings across the Greater Toronto Area (GTA). After listening and documenting hundreds of conversations with riders and the reasons behind why people become drivers; Supporting families, sending money back home, putting kids through college and university, Harrison knew that something had to be done to provide a better, more rewarding experience for drivers and riders alike and thus HOVR was born.

At HOVR, we believe that everyone should have access to safe, reliable, and affordable transportation, coupled with a work environment where Drivers earn more. DISCOVER HOVR. 100% Fare is 100% Fair.

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HOVR Investor Relations Contact:
Sanjay Makkar
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