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Autorickshaw aggregator Jugnoo has closed a $3 million series ‘B’ funding, led by Paytm with participation from high networth individuals (HNIs) such as Freecharge’s Kunal Shah.
The funds raised will aid the company’s pan-India expansion plans and to streamline processes in all new cities.
“To have an existing investor come back and invest again, that too in a lead capacity this time, is just a promising sign telling us that we must be doing something right,” said Samar Singla, Founder and CEO of Jugnoo.
Jugnoo has more than 3,300 autos empanelled with the company.
Jugnoo has raised an angel round investment worth $1 million, followed by Series ‘A’ funding of $5 million led by SnowLeopard and PayTM participated in that round in May.
It is at present operational in 22 cities, witnessing around 15K daily transactions and a huge user base of 1 million.
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