Mobile

Urban Transport App Makes $10M

The company says that it plans to use the new funding for launching in new cities, and expanding the team.

The Urban transport app Citymapper has announced a new Series A funding round of $10 million, led by Balderton Capital, according to TechCrunch. The company says that it plans to use the new funding for launching in new cities, and expanding the team.

“We have always been impressed by the single-minded focus on product quality throughout the company, led by the founder Azmat Yusuf,” Bernard Liautaud, general partner at Balderton Capital said.  “This product particularly shines in two areas which we think are crucial in an app-based world:  removing friction, and distinctiveness of voice.”

Liautaud also described its potential to further crowdsourced data from its engaged user-base, in order to offer more real-time transport info, as a “major opportunity” – following a similar playbook to crowdsourced traffic community app Waze.

“Citymapper does one thing extremely well, which in a mobile app world we believe is the difference between success and failure,” he said.

 

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.

Click to comment

TRENDING RIGHT NOW