Taxify has launched in Sydney and it will give you 50% off your fare this month

iStock

European ride-sharing company Taxify has launched in Sydney this week, ready to take on industry giant Uber.

With 4,000 drivers already signed up, the business only takes a 15% driver commission compared to Uber’s 20-27%, meaning that Taxify drivers take home more pay.

Consumers also will pay around 5% cheaper for rides, compared to Uber.

Since launching in Estonia in 2013, Taxify has expanded to 20 countries and four million customers, and is set to hit $US1 billion in turnover in 2018.

Following Sydney, the company has plans to quickly roll out its service in Melbourne before Christmas.

To launch, the company will offer 50% off rides in December.

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.