TRIBBU takes the wheel: €2 million boost for Spanish startup to end the lonely commute and tackle carbon emissions

Spanish carpooling platform TRIBBU, formerly Hoop Carpool, has secured over €2 million in a recent funding round, spearheaded by strategic investments from Iberdrola and Grupo Ruiz, each contributing €1 million. This investment aims to revolutionize daily commutes within Spain, focusing on sustainability and community-driven mobility solutions. The funding also coincides with the integration of Energy Savings Certificates (CAEs) into the platform, which allows drivers to earn €1 per passenger per journey. TRIBBU's platform connects drivers and passengers traveling similar routes, catering to both urban and interurban journeys. Since its establishment in 2019 by four entrepreneurs from Madrid, the platform has facilitated over 500,000 shared rides and is used by over 100 organizations. This funding will facilitate TRIBBU's expansion across Spain, develop its app and energy-saving certification system, and target underserved user groups, including students and commuters with limited access to public transportation. The investment in TRIBBU aligns with a broader European trend, with mobility startups advancing shared, low-emission transport. The initiative aims to reduce carbon emissions and incentivize a shift towards more communal, cost-effective commuting. The strategic funding reflects a vision to normalize shared transport, offering a comfortable and affordable alternative to individual car use, while also expanding the company's presence internationally, especially within Latin America. TRIBBU’s model distinguishes itself by financially rewarding drivers via CAEs, promoting sustainable practices. The next steps involve expanding its user base, enhancing the app, and targeting specific demographics. This approach signals a move towards digital solutions that encourage eco-friendly habits.