oBike moves into delivery lane to expand offerings

oBike, Singapore’s first homegrown bikesharing operator, today announced the launch of its new venture called oBike Flash. The new offering is a two-hour delivery service, from pick up to anywhere across the island.

oBike Flash delivers anything that ranges from documents to small packages to food, and can be accessed via the existing oBike application. oBike Flash’s model which taps on the nearest available manpower to make the delivery, is part of the sharing economy ethos that oBike embodies. New users can download the oBike Singapore application, while existing users simply need to update their oBike app to view the oBike Flash.

Last year, oBike has secured US$45 million in series B funding, with investors including venture capital firm Grishin Robotics. With the latest round of funding, the company hopes to expand globally to “empower commuters with flexibility and convenience”, according to Edward Chen, CMO and co-founder of oBike.

Tim Phang, general manager of oBike Singapore, expressed, “At oBike, we embrace the notion of a sharing economy, that was why we decided to launch oBike Flash. oBike Flash works based on a crowdsourcing approach, harnessing the availability of our existing manpower that can be located across the island. And because we screen all our candidates prior to putting them on our list of elite Flashmen, customers can be assured that their deliveries will be safe, secure and fast.”

This comes shortly after the company made headlines for partnering up with TRON, a blockchain-based decentralised protocol, to introduce its own cryptocurrency named oCoins. The partnership will officially launch in the first quarter of this year.

oCoins will enable oBike users to pay for their rides and top up their oBike wallets. The cryptocurrency can also be used to purchase online content for consumption, as well as applications that are on TRON’s platform such as audio content community Peiwo and live-streaming app Uplive. oCoins are generated by users whenever they ride on oBike, and they are able to earn more oCoins by riding longer.