Bangladesh-based Ride-hailing Startup Shohoz raises $15M in Funding

While Uber is a global transportation leader, the competition that it faces from localized startups and firms in the same domain has become intense now. In Bangladesh, Uber’s rival has so far been Pathao, which is backed by Go-Jek, however, in a recent news another ride-hailing startup Shohoz has pulled off a humdinger by raising $15 million through funding rounds.

Shohoz, which means easy in Bengali, was founded in 2014. During the initial years, the firm indulged only in online bus ticket sales. And in its four years of existence, the startup has expanded into online ferry ticket service, motorbikes, and others before engaging in private car services.

This news is seen as a positive sign for the Bangladesh startup ecosystem. With such cash flow, the startup market in the south-Asian country is expected to soar pretty quick.