Udrive raises $1.3 million in ongoing Series A round - Wamda
Summary
Founded out of the UAE in 2017, Udrive, claims to have around 180,000 registered users across Dubai, Abu Dhabi, Sharjah, and Ajman. “In October, we decided that now was the time to continue our Series A funding round with Eureeca, a plan that originated in January 2020. As a regulated funding vehicle, Eureeca was able to give investors, many of whom are our customers, greater levels of confidence in investing in our business. Thanks to this funding, the future of the company looks incredibly positive,” said Hasib Khan, Udrive CEO and founder. Since its launch in 2013, Eureeca is designed to host investors of all profiles, from casual retail and active angel investors to institutional investment firms such venture capital funds - all of which are looking to buy equity in growth-oriented businesses of the future.