Little Cab, an e-hailing ride service based in Kenya plans to raise 50 million USD as it makes move to expand to Tanzania and Ghana, said its Chief Executive officer on Friday.
The company, which is valued at about 70 to 75 million USD is in partnership with Safaricom and has also successfully extended its services to non smartphone users. They will first kick off in Tanzania and later launch in Accra in May.
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Kamal Budhabhatti said the company aims to expand across Africa and add to its operations in Kenya, Uganda and Zambia. According to him, they were already talking to investors and will finalize in mid-2019.
“We want to get into a lot more countries than what we are in at the moment.”
“We are meeting a couple of investors, both on the continent and in Silicon Valley. The interest is there,” he said.
Little Cab partnered with mobile operators to introduce a USSD code to identify a passenger’s location. “About 20 percent of our rides actually come from non-smartphones,” Budhabhatti said.
Little Cab attracts drivers by allowing them to offer extra services to earn money, “Our drivers are agents, they can sell insurance to you, they can sell (mobile) airtime, they can pay light and/or water bills, they can do all those little things around that increases that income,” he said.
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