Bangladesh-based Shohoz Raises $15 million in Pre-series B Funding
Bangladesh-based ride-hailing and ticketing platform Shohoz has reportedly secured funds amounting to $15 million in pre-series B financing round. This funding round was led by Singapore’s Golden Gate Ventures.
The other backers that participated in this round included Linear VC, 500 Startups and Singaporean angel investor Koh Boon Hwee. The funds so raised by the company are being planned to be used in the expansion of its services as well as to fight against rival Pathao. Also, it will use a part of the fresh capital for customer acquisition and retention and expand into other on-demand services.
“Bus tickets will remain an important part of our business, [there’s] lots of synergy with ride-sharing,” CEO Maliha Quadir stated. “Dhaka has a super dense population with bad infrastruct...