Shohoz receives $15m fund to expand ride-sharing in Bangladesh
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
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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: 2External<?xml version="1.0" encoding="utf-16"?><dictionary />000link-external Dhaka TribuneDhaka Tribune website linkfalsehttps://www.dhakatribune.com/business/stock/2018/09/26/golden-gate-ventures-invests-15m-in-shohozfalsefalse%> 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.
Dubai-based ride-hailing company Careem has expanded into the Iraqi city of Mosul, according to a report by Arabian Business.
The company is hoping to provide technology-based mobility options for riders and offer flexible employment opportunities for local drivers.
Careem Iraq’s general manager Mohamed Al-Hakim says: “We hope that our entry will spur other companies to follow suit.”
Careem expanded its service into the Iraqi city of Basra earlier this year, following its introduction in Najaf and