Little, Kenyan Cab Service sells 10% shares for $3 Million dollars Little raises 300 million shillings for expansion in Africa

This month Little the Kenyan cab service sold its shares to an unnamed Indian investor for $3 Million dollars. CEO Kamal Budhabatti says the investment is a start as the company seeks more investment for pan-African expansion. So far, the company has ventured into Uganda and Rwanda. It is aiming to start the business in Tanzania, Ghana, and Zambia later in the month. The company is doing well in the Kenyan marketplace.

The local taxi-hailing service has grown to over 5000 active drivers and 345,000 active users in Kenya. They launched in late 2016 and have since then grown consistently. This industry is very competitive. Little, previously Little Cab before rebranding is fighting for market share with the American Uber and Taxify. The latter recently got investment funding for $175 million dollars for expansion. Making it a worthy rival with sufficient resources to expand more aggressively in Africa and other parts of the world.

Little offers a variety of riding options. Including motorcycle and goods hailing services. Which is not offered by Uber. They also have the option to hail a cab from their website and select from different rides via their app. Their price points are also are making it a more affordable choice from the traditional taxi. The company is looking for an additional $100 million dollars to finance their pan-African expansion for the near future.

Source: Techweeez.com

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