Hailo ramps up funding for NYC e-hailing market entry

 
Dec. 26, 2012

Another taxi-hailing mobile app-maker is gearing up for a run at the New York City market in February when the city’s Taxi and Limousine Commission is expected to publish rules for using the apps. London-based Hailo is reportedly about to close a $30 Series B funding deal to back its play for a share of the market.

A report by All Things D named Fred Wilson of New York City-based Union Square Ventures as the probable lead investor. Sources have said that the new funding will put Hailo's value at approximately $140 million.

The startup has so far established itself in Boston and Chicago, following initial entry into markets including Dublin, London and Toronto. It is expected to face stiff competition from providers such as Uber in the New York market, where drivers will likely be required to select just one e-hailing service.

Hailo did not return requests for comment from All Things D.

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Topics: In-App Payments , Mobile Payments


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