The major funding rounds in Europe just keep on coming. GetTaxi, the Israeli startup behind the eponymous ride-hailing application, is poised to close a massive $150 million funding round, and is today announcing an initial $25 million investment by Sweden’s Vostok Nafta.
The fresh cash will serve to continue its expansion in Europe and beyond, and in particular to build out its black-cab business in London, New York City and presumably other major metropoles.
GetTaxi had previously raised capital from billionaire Len Blavatnik’s Access Industries and VC firm Kreos Capital, and is up against a slew of companies trying to become the go-to app for ordering rides via smartphones, including Uber, Hailo, Lyft, MyTaxi, Easy Taxi and Cabify.
According to its latest investor, GetTaxi (known as ‘Gett’ in the United States) will reach a run rate of $150 million in annual sales by the end of this year.