Ingogo closes AU$12 million Series C funding round

With public listing imminent, Australian taxi app and mobile payments platform, Ingogo has taken its total funding to AU$12 million

Australian taxi app and mobile payments platform Ingogo has closed a AU$12 million funding deal, seeing their total funding push the AU$28 million mark.

Of the AU$12 million raised, AU$4.2 million was sourced via VentureCrowd, in exchange for 4.9 percent equity.

Following its rollout in Sydney and Melbourne, the company has said the funds would be used to support its move into Perth, Adelaide and Brisbane.

"For taxi users, Ingogo is now the clear, leading alternative to Cabcharge and the incumbent taxi networks," founder and CEO Hamish Petrie said in a statement.

"We continue to grow our driver base rapidly each week and we are well underway with our national roll out plans."

"As well as continuing to drive growth in our passenger taxi booking app and corporate services, we see huge opportunities in the broader mobile payments space through our integration capability."

Petrie said Ingogo would spend time on maximising value for current shareholders and the number of initiatives that they have been developing in the last six to nine months, before going public.

In April this year, Petrie told ZDNet the company's ambition to list was closer than ever.

"We want to see some good metrics on the board from our existing products, and others we're preparing to launch before we list," he said.

"We're ready to go in terms of the board, the team, capital, and results. We just want to optimise it." he said. "We will pick the right moment for that."

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