Cab fares comparison app TaxiVaxi shifts gear with US$500K funding
TaxiVaxi presently operates in 300 cities across India including Delhi, Mumbai, Pune, Gurgaon, Jaipur and Lucknow
TaxiVaxi, a one-stop destination for cab booking in India, has secured US$500,000 in second round of funding from a group of high net-worth individuals (HNIs).
“We have grown exponentially since our launch and are one of the few startups in India to show a profitable status in this short span of time. The second round will be a structured transaction and we will be using the funds to expand into more cities, strengthening our technology base and increasing workforce,” said Neeraj Tayal, Co-founder and CEO of TaxiVaxi.
“We are expanding our presence in corporate travel segment with cashless/paperless travel for employees for multiple travel options and we are receiving really good response so far,” he added.
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The funding comes seven months after the startup secured its first round of funding in August 2015
Established by Neeraj Tayal, Ankit Gupta and Vinod Kumar, TaxiVaxi is a mobile platform for radio cabs, outstation cabs, self-drive cars/ bikes and car-pooling. It offers services through mobile app and bookings on its website, and allows users to compare fares and book a cab of their choice.
The app is available on Android as well as iOS platforms.
With a wide range of cab operators onboard, TaxiVaxi presently operates in 300 cities across the country including Delhi, Mumbai, Pune, Gurgaon, Jaipur and Lucknow. The company has a current user base of 15,000-plus and 20 corporate clients with aggressive plans to grow up to 500 cities and achieve a target user base of 1 million by end of 2016.
It also offers a mobile wallet, loyalty and referral programmes.
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