Ride hailing Little plans to raise Sh5b for expansion
SEE ALSO :SDGs innovation challenge winners fetedThe CEO said Little was talking to investors to raise about $50 million in series A funding, the financing received when a start-up opens up to outside investors for the first time. It aims to finalise this by mid-2019. “We are meeting a couple of investors, both on the continent and in Silicon Valley. The interest is there,” he said, adding that new funds would be used to develop technology and to expand to more countries. He did not name the potential investors. Without the deep pockets of its ride-hailing rivals in the region, Little has been attracting drivers by encouraging them to offer extra services to earn money, Budhabhatti said. “Our drivers are agents, they can sell insurance to you, they can sell (mobile) airtime, they can pay light and water bills, they can do all those little things around that increases that income,” he said. Little, which has a marketing partnership with Kenya’s biggest mobile operator Safaricom, is also available customers who do not have a smartphone.
Register to advertise your products & services on our classifieds website Digger.co.ke and enjoy one month subscription free of charge and 3 free ads on the Standard newspaper.