B2B ride-hailing services startup KOI Ride has closed a $3 million round with investment from CEG Invest and Taurus Wealth Financial Advisors (DIFC). Along with the equity raise of $3 million, the startup has issued a $15 million convertible bond secured by a pledge of its shares. A Swiss Private Bank has invested $2 million anchor money in the Convertible Bond besides another $0.35 million by a Geneva and Dubai-based asset management company.
KOI Ride is a tech startup company headquartered in Dubai, providing B2B ride-hailing services for the global travel industry.The company offers its services in Dubai, London, New York, Las Vegas, Cancun, Istanbul, Bodrum, Antalya, Izmir, and Dalaman. It aims to go live in additional 24 cities in the Americas, Europe and the Middle East this year.
“KOI Ride is positioned perfectly to take advantage of the recovery. Through the use of our technology, we are helping OTA’s standardize the quality of service globally with the aim of increasing the global market size” concluded Ghassan Muradwij, CFO and co-founder.