"Gett" has completed another round of raising $ 100 million - will be used to expand operations

The Israeli company Gett, which operates a taxi ordering app, announced that it has completed another round of raising $ 100 million led by existing investors and several new investors. The company said the recruitment will be used by it for efforts to expand operations in the business sector and deepen strategic partnerships. According to the company, the fundraising value is $ 1.5 billion - similar to the company's value in May 2019.
The fundraiser brings the total fundraising of Get to a whopping $ 900 million. Last year, CEO Dave Weisser said the company would go public by the end of 2019, which in practice did not happen - and the current recruitment is likely to further push these plans even further.
The company suffered a blow from the Corona crisis and the drop in taxi travel, recorded tens of percent declines in travel and also cut its employees' wages. Get is now focusing on providing travel services to the corporate-business market and collaborating with other transportation companies, such as Lift - an area that has been strengthened by the company and compensates for the Corona damage.
GET did not publish the list of investors in the last round, but it is likely that it will not find the German car giant Volkswagen, the largest strategic investor in GET in the past. In 2016, Volkswagen invested $ 300 million in a baguette, in exchange for a 20% stake in the company. The company later invested another $ 80 million in additional rounds. As part of Volkswagen Bagget's investment, a number of significant collaborations were to be forged between the companies - but these did not materialize in the end.