Mondo Ride has announced they secured $2 million funding that they will use to drive their expansion plan into six new cities in across Africa. To date, the total amount from the rounds of funding brings the total received by the ride-sharing company to $5 million.
This latest round of funding comes from UAE and Egypt based investors; though, the company has not disclosed the identity of the investors. In a statement, Mondo Ride said:
“Funds will be used to fund Mondo Ride’s continued expansion across Africa and further investment in its proprietary technology platform. This funding round will enable Mondo Ride to provide even more rides for busy, active people across the fastest growing cities in Africa.”
As of to date, Mondo Ride is present in the following cities; Dar es Salaam, Mombasa, Nairobi, and Cairo. The company says it has over 6,000 drivers in the cities it already has rolled out its services, and it aims at expanding into six more cities across Africa by the end of this year. The company was founded in Kenya in January 2016 and has been on a serious expansion drive ever since.