Shohoz receives $15m fund to expand ride-sharing in Bangladesh

Ride-sharing company Shohoz will use a $15m investment from venture capital firm Golden Gates Ventures to expand its on-demand service in Bangladesh. A report by the Dhaka Tribune says the company is now launching its ‘super-app’ strategy which will add food deliveries to its current offering. Maliha M Quadir, Shohoz founder and managing director, says: “To help Shohoz finance this growth, we have brought on board a great line-up of experienced international and regional investors, who I think will help
September 28, 2018 Read time: 1 min

Ride-sharing company Shohoz will use a $15m investment from venture capital firm Golden Gates Ventures to expand its on-demand service in Bangladesh.

A report by the %$Linker: 2 External <?xml version="1.0" encoding="utf-16"?><dictionary /> 0 0 0 link-external Dhaka Tribune Dhaka Tribune website link false https://www.dhakatribune.com/business/stock/2018/09/26/golden-gate-ventures-invests-15m-in-shohoz false false%> says the company is now launching its ‘super-app’ strategy which will add food deliveries to its current offering.

Maliha M Quadir, Shohoz founder and managing director, says: “To help Shohoz finance this growth, we have brought on board a great line-up of experienced international and regional investors, who I think will help us achieve our feat very soon.”

The company will also be able to work on introducing the ride-sharing service beyond the border if it can meet demands in Bangladesh, Quadir adds.

UTC

Related Content

  • July 3, 2019
    Bolt expands ride-hailing service in Kenya
    Bolt is to expand its ride-hailing service to three additional urban centres in Kenya, according to a report by Capital FM Kenya. Ola Akinnusi, the Bolt country manager in Kenya, says: “After Nairobi and Mombasa cities, it was natural that Bolt would gradually expand across the country. We now intend to build new communities in Kisumu, Kakamega and Thika as we continue to gain the trust of the Kenyan people.” According to Akinnusi, the company has provided safety features such as ‘Share your ETA’ which al
    Read More
  • July 9, 2019
    Grab secures $300m to expand presence in South-east Asia
    Grab has received $300 million to further accelerate its expansion in South-east Asia. Justin Leverenz, senior portfolio manager at Invesco – the company which has put up the cash - says the investment will support Grab in its “bringing more everyday services, greater accessibility and convenience to users in South-east Asia”. Earlier this year, Grab began working with property developer Sinar Mas Land to deploy electric scooters in Indonesia and to help strengthen BSD (Bumi Serpong Damai) city’s posi
    Read More
  • February 14, 2019
    Ride-hailing and taxi drivers could face tougher criminal checks in England
    Drivers who ply their trade on apps such as Uber could be under greater scrutiny as part of proposals being put forward by the UK government. The potential risk to passengers from the explosion of ride-hailing apps, as private-hire drivers are perceived to receive less thorough vetting – for example, to flag up past convictions – has long been argued. Incidents such as the murders of passengers by a Didi driver in China heightened such concerns - although critics point out that a US Uber driver who ad
    Read More
  • September 17, 2019
    Ertico reveals new ITS event for 2020 in Russia
    Ertico – ITS Europe has announced it is to hold the first-ever Central Eastern European Congress next year. Hosted by the city of Kazan, in south-west Russia, the event will focus on cooperation with Russia, the Commonwealth of Independent States (which comprises a number of countries formed after the break-up of the Soviet Union) and Central Eastern countries, says Ertico. It will take place in Kazan, Tatarstan on 21-24 September 2020 and there is a preview of the event in the city next month, on 3-4 Oct
    Read More

Highlighted Content