Flywheel gives taxis new ammunition in fight against Uber

Fortune

You have to give it to Flywheel, the company equipping taxi drivers with Uber-like apps, for trying to pull the cab industry into the Twenty-First Century.

On Thursday, the company announced a new way for passengers to pay for rides with their mobile phones even when they hail a taxi from the street.

After getting into a cab, passengers merely open the Flywheel app to automatically link up with the driver’s app. After the ride ends, the passenger can pay directly through the app.

« It’s basically the value that we can provide our customers, » Flywheel CEO Rakesh Mathur told Fortune. « The fact that it’s extremely delightful not to have to use cards in cabs. »

Mathur joined as Flywheel’s CEO last fall, at the same time as the company raised $12 million in a new round of funding from Shasta Ventures, TCW/Craton, and RockPort Capital.

With ride-hailing companies like Uber and…

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