TORONTO, June 23, 2023 — Direct Global’s pioneering efforts in spearheading and financing multi-stakeholder cooperatives are reaching new heights as they announce the start of Fare.Coop/Local Driver Co-op’s Series A funding round. The ambitious goal is to raise $26 million, enabling the expansion of their innovative services to major urban centers like Los Angeles, New York, Toronto, and others. This expansion aims to reach tens of millions of consumers through Fare.Coop’s disruptive federated cooperative model, which is comparable to the transformative impact of VISA on the financial industry in the late 1960s, leading to the largest IPO in American history in 2008.
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