Clara Fain, CFO of Via, discusses how the company’s bus makeover is paying off.
Transcript:
Clara Fain: So public transit is massive. It’s a global market over $500 billion. We’re focused on North America and Western Europe mostly. And there it’s it’s one of the last pen and paper industries where buses, if you think of a bus that’s not technology, is not top of mind. So we’re bringing technology to cities, to governments, to local agencies to help them digitize the bus. And we’re doing that in this huge market where 1% penetrated, working very hard to continue to help our customers.
Caroline Woods: Do you see, via replacing city buses in certain places or just complementing them.
Clara Fain: We really partner with our customers to make sure that they have the most efficient transit system. So in some cases with our customers, we may decide that some very inefficient buses should get replaced by more dynamic bus routes. For example, Wilson, North Carolina is a city with 50,000 residents. They had a highly inefficient bus. They decided to replace it with what we call microtransit, and household income increased 20% in that city thanks to a better transit system.
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