NEW YORK, Feb. 15, 2021 /PRNewswire/ — At this time, Wapanda, a taxi-focused transportation platform primarily based in New York Metropolis, introduced expansions to its core management workforce and sources. For the final yr, Wapanda has labored with Bradley Tusk and Tusk Methods to encourage the Cities of New York and Chicago to determine a brand new ahead considering taxi expertise.
Wapanda is a mission-driven transportation infrastructure platform. As a part of its mission, Wapanda is actively working with the Metropolis and drivers to elevate medallion homeowners and taxi employees out of their monetary misery. Co-founders, Zahid Biviji and Mihir Dange imagine one of the simplest ways to do that is by creating new alternatives for these employees to compete within the twenty first century for-hire automobile market.
Final yr, Wapanda teamed up with New York Metropolis Council Member, now Congress Member, Ritchie Torres and launched an modern taxi medallion rehabilitation program, modeled after the federal Dwelling Inexpensive Refinance Program (HARP). At a value as little as $20 million, the Medallion Inexpensive Refinance Program (MARP) program would re-establish the medallion values, assure their worth and create as a lot as $1.4 billion in new fairness for medallion owner-operators.
This week, Zahid Biviji and Mihir Dange introduced new additions to the Wapanda workforce, “We’re thrilled to welcome our new colleagues: Chief Working Officer, Tom Rutledge; Senior Advisor, Gopal Garuda; and Senior Advisor, Bryan Weadock,” the pair stated. “This workforce, working together with Bradley Tusk and his workforce, brings many years of experience and expertise in investing, gross sales, management and development which are invaluable to the way forward for Wapanda.”
Stated Bradley Tusk, “For years now, I’ve believed that the standard medallion backed system would fail. That is the best way to put it aside: innovation, extra logical economics, a robust deal with customer support. That is why I am excited to be working with Wapanda on serving to drivers construct up fairness via modern concepts like Ritchie Torres’ MARP proposal, and as legislators across the nation work out how to make sure autonomous automobiles are a part of an answer to offer smaller owner-operators an asset that is price what it as soon as was. By giving medallion homeowners the instruments and sources they should carry their medallions into the longer term, we will notice what the subsequent evolution of taxis can and ought to be. For cities like New York, Chicago and even Mexico Metropolis, I am excited to be working with Zahid and Mihir on municipally primarily based options to reinvigorate native taxi industries.”
Tom Rutledge is a 30-year Wall Road credit score veteran with capital markets expertise at Merrill, Deutsche Financial institution and J.P. Morgan. Earlier than becoming a member of Wapanda, Tom was a personal credit score specialist at Magnetar Capital, main investments in commerce finance, last-mile warehouses, and structured options.Tom can also be an lively angel investor and advisor, with early-stage stakes in a number of VC-backed corporations, together with sectors resembling fin-tech (Alto, Reggora), prop-tech (Getaway, HomeLight, Bevi), marketing-tech (Magellan.ai, Elsy, WEVO), second-chance employment (HonestJobs) and therapeutic psychedelics (Eleusis).
Gopal Garuda is a profession funding banker specializing in structured financings and M&A inside a number of rising development sectors. He was a Managing Director at Merrill Lynch within the Company Finance Group inside Funding Banking from 1998-2009. At Merrill, Gopal centered on originating, structuring and executing bespoke financings and structured transactions within the know-how sector. In 2014, he co-founded Gramercy Capital, an funding banking and principal funding platform. Over the course of his profession, Gopal has originated and executed 100+ debt financings elevating in extra of $10 billion.
Bryan Weadock is a 30 yr Wall Road veteran with a historical past main gross sales groups at main US funding banks. As Co-Head of International Fastened Revenue, Forex and Commodity Gross sales at Financial institution of America Merrill Lynch, Bryan led the group answerable for transacting within the capital markets with the Fortune 500 and the world’s largest institutional traders. Earlier than BofA, Bryan oversaw J.P. Morgan Chase’s North American Fastened Revenue & Currencies Gross sales workforce, delivering the financial institution’s merchandise to institutional shoppers within the US, Canada and Mexico. He’s at present lively as an investor and advisor to main know-how corporations, serving as a senior advisor and board member for Ok-Movement, a digital studying methods firm.
Contact: [email protected]