HerRyde

Women's safe ride-hailing service.

Epitaph

“Here lies HerRyde. It gave Nigerian women a ride-hailing service with women behind every wheel, answering real fears about safety, and it moved over two thousand of them. Bootstrapped to the end, it could not raise the fare to scale, and parked itself in hibernation.”

Overview

Born: 2022 (Year)
Died: May 2024 (Month)
Lifespan: 2 years
Fate: Dormant
Headquarters: 🇳🇬 Nigeria
Category: Travel & Mobility
Stage at death: Bootstrapped
Primary cause: Funding or runway
Contributing causes: Execution

Death certificate

Timeline

August 2022Launch
HerRyde launches in Abuja as Nigeria's first women-only ride-hailing platform
October 2023Hibernation
Co-founders take the app and website offline to re-strategize after failing to secure funding
May 2024CEO steps down
Monsurah Alli-Oluwafuyi resigns from active leadership as the platform remains inactive

Autopsy report

Why did HerRyde shut down?

HerRyde, a bootstrapped women-only ride-hailing service launched in Abuja in August 2022, 'hibernated' in October 2023 after a year of operation because it could not raise the funding needed to scale, and by May 2024 its CEO had stepped down from active leadership as the platform remained inactive.

What HerRyde attempted

HerRyde, founded by Monsurah Alli-Oluwafuyi, Muhammad Muazu and Kamaldeen Ibrahim, launched in Abuja in August 2022 as Nigeria's first ride-hailing platform exclusively for women — women-only drivers and passengers — to address widespread reports of harassment and safety concerns on conventional ride-hailing apps.

What worked

In its first month HerRyde signed up 10 registered drivers and completed 500+ trips; at its peak it grew to roughly 200 registered female drivers (with a waitlist of about 300 more) and facilitated more than 2,000 completed rides for over 500 passengers, all as a self-funded, bootstrapped business.

Early warning signs

The company remained entirely bootstrapped with no external funding, and its app and website access were cut off starting in October 2023 as it moved into 'hibernation.'

What happened

After a year of bootstrapped operations, HerRyde's co-founders decided to 'hibernate' the business in October 2023 to re-strategize, improve their systems, and pursue outside funding to scale — taking the app and website offline. CEO Monsurah Alli-Oluwafuyi stepped down from her leadership role in May 2024, while stating co-founders would continue development efforts toward a possible relaunch.

Lessons for future builders

A loved product still needs capital to outgrow its pilot. Line up funding, or a path to profit at small scale, before demand outruns what a bootstrapped balance sheet can carry.