Fasten refers to multiple technology companies, but the most prominent U.S.-based entity was Fasten Inc., a Boston-headquartered ridesharing service launched in 2015 that prioritized drivers with low $0.99 flat commissions per ride and lower fares for riders.[3][2] It operated in cities like Boston and Austin, targeting college students initially with promotions such as $5 rides under 20 minutes, grew its driver base 300% quarter-over-quarter in its first year, and raised about $10M in funding before ceasing U.S. operations in 2018 after acquisition by Russia's Vezet Group.[3][2] A separate, active Fasten is a financial technology company offering the Fasten Rewards Visa Card, which enables dealerships to run loyalty programs while letting consumers earn accelerated points on auto transactions redeemable for cash, vacations, or car down payments—making car ownership more affordable.[1]
The ridesharing Fasten served riders seeking cheaper, transparent alternatives to Uber/Lyft and drivers wanting fairer pay, solving high commissions and opaque pricing in the gig economy; it generated $500K revenue in year one but pivoted internationally post-shutdown.[3] The fintech Fasten targets consumers and dealerships, addressing loyalty gaps and high car payment burdens via B2B2C rewards, with ongoing ecosystem expansion including ROI calculators for dealers.[1]
Ridesharing Fasten was founded in 2015 by CEO Kirill Evdakov, CMO Roman Levitskiy, and COO Vlad Christoff in Boston, raising $9.2M initially from chairman Evgeny Lvov.[3] The idea emerged to disrupt ridesharing by taking a fixed $0.99 per trip—far below competitors' percentages—paying drivers for pickup time/distance, and launching with student-focused promotions in Boston/Cambridge.[3][2] Early traction included 300% quarterly driver growth and leadership in Austin by 2016, but U.S. ops ended March 2018 via Vezet acquisition.[3]
Fintech Fasten stems from founder/CEO Jacob Zachs' vision for automotive loyalty; it evolved from a credit card into a full ecosystem connecting dealerships and consumers at key purchase moments, with milestones like ROI tools and expanding dealer partnerships.[1]
The ridesharing Fasten rode the 2015-2018 gig economy boom, capitalizing on Uber/Lyft backlash over driver pay and surge pricing amid urbanization and app-based mobility trends.[3][2] Its low-commission model pressured incumbents on fairness, influencing ecosystem debates on sustainable driver economics, though scale challenges led to acquisition—highlighting consolidation forces in ride-hailing.[3] Market timing favored early entrants in underserved niches like student markets, but intense competition favored global players.
Fintech Fasten taps fintech-auto convergence, aligning with rising car ownership costs, EV transitions, and loyalty tech amid post-pandemic dealership digitization.[1] It influences by bridging B2B dealer tools with consumer rewards, riding embedded finance trends where payments foster retention; timing benefits from high auto loan rates and dealer needs for data-driven sales in a fragmented industry.[1]
Ridesharing Fasten's legacy endures in driver advocacy discussions, but its U.S. story closed; Vezet integration may sustain international momentum amid autonomous vehicle shifts. Fintech Fasten shows stronger trajectory, expanding dealer ecosystems and rewards amid auto sector recovery—poised for growth as AI-driven personalization enhances loyalty platforms.[1] Trends like open banking and subscription models will shape both archetypes, amplifying Fasten's core ethos of affordability: from cheaper rides to rewarding ownership, they humanize high-stakes mobility tech.[1][3]
Fasten has raised $10.0M in total across 1 funding round.
Fasten's investors include Almaz Capital, Foundry Group, Keyhorse Capital.
Fasten has raised $10.0M across 1 funding round. Most recently, it raised $10.0M Series A in October 2016.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2016 | $10.0M Series A | Almaz Capital, Foundry Group, Keyhorse Capital |
