#Asia Cab fares comparison app TaxiVaxi shifts gear with US$500K funding

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TaxiVaxi presently operates in 300 cities across India including Delhi, Mumbai, Pune, Gurgaon, Jaipur and Lucknow

taxivaxi

TaxiVaxi, a one-stop destination for cab booking in India, has secured US$500,000 in second round of funding from a group of high net-worth individuals (HNIs).

“We have grown exponentially since our launch and are one of the few startups in India to show a profitable status in this short span of time. The second round will be a structured transaction and we will be using the funds to expand into more cities, strengthening our technology base and increasing workforce,” said Neeraj Tayal, Co-founder and CEO of TaxiVaxi.

“We are expanding our presence in corporate travel segment with cashless/paperless travel for employees for multiple travel options and we are receiving really good response so far,” he added.

Also Read: No Internet? You can still book a bike taxi and even track your ride using Baxi

The funding comes seven months after the startup secured its first round of funding in August 2015

Established by Neeraj Tayal, Ankit Gupta and Vinod Kumar, TaxiVaxi is a mobile platform for radio cabs, outstation cabs, self-drive cars/ bikes and car-pooling. It offers services through mobile app and bookings on its website, and allows users to compare fares and book a cab of their choice.

The app is available on Android as well as iOS platforms.

With a wide range of cab operators onboard, TaxiVaxi presently operates in 300 cities across the country including Delhi, Mumbai, Pune, Gurgaon, Jaipur and Lucknow. The company has a current user base of 15,000-plus and 20 corporate clients with aggressive plans to grow up to 500 cities and achieve a target user base of 1 million by end of 2016.

It also offers a mobile wallet, loyalty and referral programmes.

The post Cab fares comparison app TaxiVaxi shifts gear with US$500K funding appeared first on e27.

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