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Long-distance ridesharing platform BlaBlaCar has received a funding of $ 200 million (about Rs 1,324 crore) that will be used to expand operations across emerging markets including India and Brazil.
The Series D round was led by Insight Venture Partners and Lead Edge Capital with the participation of Vostok New Ventures.
The Paris-headquartered firm had raised €125,000 in Series A led by ISAI (2011), $ 10 million in Series B led by Accel Partners (2012) and $ 100 million in Series C led by Index Ventures (2014).
Set up in 2006, BlaBlaCar has over 20 million members in 19 countries. The company connects people looking to travel between cities with car owners going the same way, so both can share the cost of the travel (fuel and toll charges).
The funds will be used to expand services across existing markets as well as expand to newer geographies like Brazil, Asia and additional markets in Latin America.
BlaBlaCar, which launched its services in India in January this year, has already seen 3.5 lakh seats being offered and 1.7 crore km being shared through its marketplace.
People from over 700-plus cities have used our service,” BlaBlaCar Country Manager India Raghav Gupta told PTI.
He, however, did not disclose details of investments that will be directed toward India operations.
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