Flywheel, a Redwood City, CA-based taxi app, closed a $12m in Series C funding.
Backers included TCW/Craton, Rockport Capital and Shasta Ventures.
The company intends to use the funds to expand operations.
Led by CEO Rakesh Mathur, CTO Percy Rajani and CFO Oneal Bhambani, Flywheel provides consumers with an app to access to taxi rides in real-time, track arrival via GPS and automatically pay their fare via their smartphone device and (vetted and licensed) drivers from the majority of the city’s taxi companies with a passenger acquisition channel.
The service is present in San Francisco.
The Flywheel app is available on the Apple App Store and on the Android Google Play Store.
In conjunction with the funding, Rockport Capital’s Abe Yokell and Shasta Ventures’ Rob Coneybeer, Rakesh and Oneal will join the company’s board of directors.
FinSMEs
23/11/2014