JAYRIDE Group Limited advances its transformation into a scalable Mobility-as-a-Service platform with a new SaaS agreement in Thailand, strategic partnerships, and a successful capital raise. The company tightens its cost base while preparing for ASX reinstatement.
- New SaaS agreement with Thailand’s Drivemate for 2,000+ vehicles
- Strategic alliance with Xoomplay to integrate in-car advertising
- Raised $735,000 via share issue to support platform development
- Operating cash outflows limited to $751,000 with $330,000 cash on hand
- Key executive appointments bolster leadership and financial management
JAYRIDE’s Strategic Pivot Gains Momentum
JAYRIDE Group Limited (ASX, JAY) is steadily advancing its transformation from a traditional airport-transfer aggregator into a sophisticated Mobility-as-a-Service (MaaS) and SaaS platform. The December 2025 quarter saw meaningful progress in technology deployment, regional partnerships, and capital management, positioning the company for scalable growth across Australia, New Zealand, the Pacific, and Southeast Asia.
Central to this progress is JAYRIDE’s new SaaS agreement with Drivemate, Thailand’s leading peer-to-peer car-sharing platform. This deal tasks JAYRIDE with designing and deploying an enterprise-grade mobility platform, including mobile apps, management consoles, and integrated payment and insurance APIs. The pilot will cover over 2,000 vehicles in Bangkok, with plans to expand nationally to key cities such as Phuket, Pattaya, and Chiang Mai over the next year.
Expanding Commercial Footprint and Strategic Alliances
Alongside the Drivemate partnership, JAYRIDE forged a strategic alliance with Xoomplay, AirAsia’s exclusive in-car entertainment and advertising partner. This collaboration integrates dynamic in-vehicle media and digital advertising into JAYRIDE’s SaaS platform, enabling monetisation of ride time through interactive ad-tech and real-time analytics. This move not only diversifies revenue streams but also enhances the value proposition for mobility operators in Southeast Asia.
Meanwhile, JAYRIDE continues to refine its aggregator marketplace, focusing on profitable corridors and maintaining strict credit controls. The hybrid model combining recurring SaaS revenue with a disciplined aggregator footprint aims to deliver improved margins and sustainable shareholder value.
Financial Discipline and Leadership Strengthening
Financially, JAYRIDE limited operating cash outflows to $751,000 during the quarter, with $150,000 relating to legacy debt obligations. The company ended the period with $330,000 in cash, bolstered by a $735,000 capital raise through the issue of 122.5 million shares at $0.006 each. This recapitalisation is a critical step towards the company’s planned reinstatement to trading on the ASX.
To support its growth ambitions, JAYRIDE appointed Nat Nunthapiwat as Chief Operating Officer and brought in Aaron Laurita and Phillip Hains for CFO advisory and financial management roles. These leadership enhancements aim to provide the operational and financial rigour needed to scale the business sustainably.
Looking Ahead, Challenges and Opportunities
Despite the positive momentum, JAYRIDE’s cash runway remains tight, with available funding covering less than half a quarter at current burn rates. The company is actively exploring further capital raising options, including non-dilutive debt and convertible notes, alongside equity offerings. Management expresses confidence in securing necessary funding based on past successes.
With a new SaaS platform, streamlined cost structure, and expanding commercial pipeline, JAYRIDE is poised to demonstrate the scalability of its hybrid business model. The upcoming quarters will be critical to validate revenue growth from SaaS contracts and to progress ASX reinstatement efforts.
Bottom Line?
JAYRIDE’s transformation is gaining traction, but its near-term funding needs and SaaS revenue growth remain key hurdles to watch.
Questions in the middle?
- How quickly will the Drivemate SaaS rollout translate into meaningful revenue?
- What are the prospects and timelines for JAYRIDE’s ASX reinstatement?
- Can the company secure additional funding without significant dilution?