Lyft’s series G goes up to $600m

Apr 12, 2017 • Robert Lavine

Existing backer Rakuten has returned for a round that included a raft of investment firms, fueling speculation the ride hailing company is looking to go public relatively soon.

US-based ride hailing platform Lyft has closed a $600m series G round featuring e-commerce firm Rakuten that valued it at $7.5bn, Bloomberg reported yesterday.

The round also included investment firm KKR’s Next Generation Technology Fund, investment firms Janus Capital Group and Baillie Gifford, investment and research management firm AllianceBernstein and pension fund PSP Investments.

Founded in 2012, Lyft runs an on-demand ride ordering platform that was responsible for more than 70 million rides in the first three months of 2017,…

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