Business: Little Cab sells 10% of it’s shares to an Indian Investor

0
462

By Tech Editor, Talk of Nairobi.

 

Kenyan taxi-hailing app, Little Cab, has sold just under 10 percent of its shareholding to an Indian investor for 3 million dollars. It reported today

Kamal Budhabhatti, CEO, Little Cab said the the investment was unplanned and that Little would still raise another $100 million for African market expansion.

He added that Little Cab had started operating in Uganda and Rwanda would follow in June 2018, followed by Zambia, Ghana and Tanzania.

Little Cab competes with Uber and Taxify-global taxi hailing apps. Little Cab has over 5,000 active drivers and 345,000 active users and has a partnership with giant telcom company Safaricom.

The company also hopes to source for a further $100 million from US companies to further its expansion.

LEAVE A REPLY

Please enter your comment!
Please enter your name here