The Brazil-based carpooling service Tripda will cease operations tomorrow after it reportedly failed to secure series B capital.
Brazil-based carpooling app provider Tripda, backed by conglomerate Rocket Internet, is set to shut down tomorrow after being unable to meet high operating costs, according to TechCrunch.
The announcement follows reports by news publication Tech in Asia that Tripda failed to raise a series B round. The company had previously closed an $11m series A round in January 2015 that featured Rocket Internet and an unnamed US-based venture capital fund.
Founded in 2014, Tripda operated a platform that enabled users…
