Airlift, Pakistani ride hailing startup App earns millions of dollars
ISLAMABAD - Airlift , a ride-hailing startup which connects passengers with buses on fixed-rate, just raised $12 million for their Series A financing. This funding is the largest ever for a Pakistani startup and so far one of the largest raised by any startup within the South Asian region.
In August just a few months back, the startup raised $2.1 million in seed funding link in a round lead by Indus Valley Capital and the Fatima Gobi Ventures.
This funding was just 5 months after Airlift launched its operations and 2 months onwards, they have increased their total capital investment figure to $14.1 million.
The Series A round was led by First Round Capital, a venture known for previously funding Uber. Fatima Group and Gobi Partners, and Indus Valley Capital also funded Airlift again in this round through Fatima Gobi Ventures joint fund.
With apps on Android and iOS, customers can book air-conditioned, premium buses in real-time and pay through cash, debit or credit cards as per their convenience. Users can reserve as many seats as they need and then pay accordingly.