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Paytm invests more in auto-rickshaw hailing app Jugnoo

  • Mobile commerce company Paytm has announced fresh funding in
    Chandigarh-based auto-rickshaw hailing app, Jugnoo. This is the second tranche
    of investment from Paytm in Jugnoo after having participated in a $5-million
    round earlier this year.
  •  
  • Kiran Vasireddy, Sr. Vice-President, Paytm, said, “Hailing an auto
    whenever and wherever one needs was previously simply unheard of. Jugnoo is an

    • Mobile commerce company Paytm has announced fresh funding in
      Chandigarh-based auto-rickshaw hailing app, Jugnoo. This is the second tranche
      of investment from Paytm in Jugnoo after having participated in a $5-million
      round earlier this year.
    •  
    • Kiran Vasireddy, Sr. Vice-President, Paytm, said, “Hailing an auto
      whenever and wherever one needs was previously simply unheard of. Jugnoo is an
      excellent app here to make it an easy and hassle-free experience. Jugnoo would
      require more funds to scale up its operations across the country and we want to
      be a part of its growth story. “
    •  
    • Currently, the auto-rickshaw aggregator operates in 22 cities across
      the country, and has recently entered in Chennai.
    •  
    • “Its hyperlocal deliveries using auto-rickshaws is an excellent
      mechanism for auto drivers to earn more in their free time between customer
      rides,” Vasireddy said in a statement.
    •  
    • “We are excited with this infusion of fresh funds. We will be
      concentrating on investing it in our multi-city expansion and growth. We are
      entering new cities every three days, while we are planning to enter major
      metros in the coming months. We are doing 15,000 transactions per day currently
      and our aim is to take that to 1,00,000 by February next year,” said Samar
      Singla, CEO and Co-founder, Jugnoo.

     

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