Lyft raises $600m in new funding round
Lyft – one of Uber’s key rivals in the rider hailing app space – has announced the close of $600m in new funding, along with a $7.5bn post-money valuation. The new funding came from existing partners like Rakuten and Janus Capital, and also new investors including AllianceBernstein, Baillie Gifford, KKR, and Canada’s Public Sector Pension Investment Board (PSP).
In a notice about the funding posted yesterday (11 April), Lyft said: “We have big plans on the horizon, and will continue investing in new technology.”
Although Lyft has so stuck to its ride hailing remit, its big competitor Uber has ventured into other areas – notably with its on demand delivery services UberRUSH and UberEATS.
