Pre-Series B round raised by transportation startup based in Dhaka

Pathao, a transportation-based startup which provides customers with various services has closed a new round of funding.

Services provided by the Dhaka-based company which originally began as a delivery partner company, include a ride-hailing service for motorbikes, food-delivery and a ride-share service. According to a company statement, investors in this recent round of funding include Go-Jek, Openspace Ventures, Osiris Group, and Battery Road Digital Holdings.

“We could not have achieved what we have, without the contribution of our loyal customers and drivers, and our execution-oriented team,” Hussain M Elius said via the statement. “We are proud to have Go-Jek be a part of our story, as we aspire to make Pathao the biggest service platform in Bangladesh.”

Since its founding in 2015, the Bangladeshi startup has gained a presence in 22 cities nationally and currently makes around 100,000 deliveries monthly, Deal Street Asia reported. The startup previously raised seed funding in October of 2015 with funding from Road Digital Holdings

According to Elius, as reported by Deal Street Asia, funds from the pre-Series B round will be put toward the launch of a new payment service and geographical expansion among other purposes.

With an employee base of 500 people and providing a monthly average of around one million rides, all of Pathao’s available services can be found via the company’s mobile app.

Go-Jek has invested in the delivery startup in the past, participating in Pathao’s Series A round which was raised last year.

(Picture courtesy: https://pathao.com/)

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