[Funding alert] After investing in Vogo, Sachin Bansal lends bike-rental platform Bounce $4M
Summary
Bounce (previously known as Metro bikes), the Bengaluru-based last-mile mobility platform, has raised debt capital of approximately $4 million from Flipkart Co-founder Sachin Bansal’s new fund, BAC Acquisitions. Bounce – then known as Metro Bikes - had earlier raised $12.2 million in a Series A round, led by Sequoia India and Accel Partners, along with Raghunandan G, Co-founder of TaxiForSure, and a consortium of other investors. Also read: Shuttl raises Rs 49.99 cr led by Sequoia Capital, Lightspeed, SCI Investments, and Times Internet The intention is to expand Bounce’s network across Bengaluru and develop a pan-India presence by 2020. Apart from Ola, Bounce and Vogo, Gurugram-based bus aggregator Shuttl announced it had raised Rs 49.99 crore as a part of its Series B funding. Also read: Exclusive: Sachin Bansal and Bhavish Aggarwal talk about the biggest domestic investment in a desi internet venture