Since its overhead is low, Iommi projects that it can be profitable in new markets in less than three months. Instead of owning its vehicles, its vans are supplied by fleet owners and rental agencies, with Fetii getting 30% of the revenue, Forbes reports. Raising $500,000 on WeFunderįetii itself is a platform. “We can generate three times the revenue (of a typical ride share trip) in one Fetii trip because we can put in more passengers while still maintaining the cost of the trip,” Iommi told Forbes.įetii has another benefit, Iommi says: It reduces both traffic and CO2 emissions by reducing the number of cars groups might otherwise take from A to B.

Iommi noticed that big groups enjoyed the camaraderie and cost-sharing of traveling together in one big ride, instead of navigating the logistics of splitting into multiple vehicles. According to Forbes, Iommi got the idea as a senior at Texas A&M, when he and a friend were operating an event shuttle business. It currently operates in College Station, Austin, and Lubbock. The startup-which calls itself “ the Uber for large groups” and “the world’s first group rideshare platform”-was co-founded in 2020 by CEO Matthew Iommi and CTO Justin Rath. Fetii, a ride-sharing service for groups who want to go places in a 15-passenger van, plans to roll in Dallas later this year.

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