HOVR: Fair rides and equal investment opportunity access for all

HOVR, founded by Harrison Amit in 2020, is on a mission to bring fairness to the rideshare industry. After moving to Toronto in 2018 and experiencing firsthand the challenges of traditional rideshare services, Harrison saw an opportunity to create a more equitable model. Unlike conventional platforms that take up to 40% of driver earnings, HOVR operates on a membership model, allowing drivers to retain 100% of their fares. This approach ensures fair compensation for drivers while offering passengers lower costs.

To accelerate its vision and growth, HOVR launched a strategic fundraising campaign, raising $600,857 from 303 investors across 325 investments. This case study explores how HOVR successfully executed its campaign—leveraging influencer partnerships, personal outreach, and urgency-driven strategies to surpass its funding goals. A key factor in this success was the unwavering commitment and teamwork that fueled the raise from day one. 

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HOVR’s  raise in a snapshot

• HOVR raised over $600K from 303 investors towards their $967K round, successfully exceeding their target funding goal of $800K.
• The company engaged its community of 48,000+ drivers and 30,000 mailing list subscribers to generate interest in the campaign.
• A significant majority of investors in HOVR—comprising 76% of the total 325—were retail investors.
• Influencers, including Andre De Grasse, played a key role in amplifying the campaign's reach.
• A large promotional push in the final week of the campaign resulted in 77 investments, totaling $85K.

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Strategic Marketing and Influencer Partnerships

To drive awareness and attract investors, HOVR implemented a multi-channel marketing strategy, including:

Social Media Campaigns: HOVR developed a series of strategic social media posts in the weeks leading up to the launch, building anticipation and engagement. One of their key strategies was leveraging investor testimonials, which helped create trust and credibility around the campaign.

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Influencer Collaborations: Partnering with high-profile figures, such as Olympic sprinter Andre De Grasse, helped expand HOVR’s reach and credibility. Influencers played a crucial role in drawing attention to the campaign, engaging new investor pools, and reinforcing trust within the target audience.

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Media Coverage: HOVR’s fundraising efforts were featured in The Globe and Mail, further validating the company’s mission and increasing visibility among potential investors.

Personal Outreach to Investors

Beyond digital marketing efforts, HOVR’s leadership team, including its founder, personally reached out to potential investors. This hands-on approach added authenticity to the campaign, helping to:

• Build meaningful connections with investors.
• Address concerns and answer questions directly.
• Reinforce the company’s long-term vision and commitment to success.

By the campaign’s closing days, HOVR intensified its direct outreach efforts, using tools like the FrontFundr campaign dashboard to identify and contact interested investors. Through emails, campaign updates, and personal phone calls, the team ensured every investor felt integral to HOVR’s journey.

Creating Urgency Before Closing

As the campaign neared its end, HOVR employed urgency-driven strategies to maximize last-minute investments. This included:

• Highlighting limited investment opportunities (e.g., potential oversubscription).
• Regular campaign updates on fundraising progress.
• Time-sensitive calls to action encouraging investors to act before the deadline.

This sense of exclusivity and urgency kept potential investors engaged, resulting in a surge of investments in the final days.

Conclusion

HOVR’s successful fundraising campaign on FrontFundr serves as a blueprint for other startups looking to raise capital. By utilizing influencers, fostering personal connections, and leveraging urgency, HOVR not only met but exceeded its goals. The company’s commitment to fairness and transparency resonated with both drivers and investors, reinforcing its mission: "100% Fare is 100% Fair."

For founders planning their own fundraising campaigns, HOVR’s journey highlights the importance of strategic planning, authentic engagement, and leveraging social proof. With these tactics, startups can transform their fundraising efforts into a resounding success.

Learn more about HOVR’s fundraising journey on FrontFundr here.

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