LONDON: US based Ride-hailing startup Lyft has raised $600 million in a new funding round, the company reported on Wednesday.
This doubles the firm’s valuation from last year to $15.1 billion this year.
The new funding will put Lyft in a strong position to compete with its biggest rival Uber Technologies Inc.
The new funding round is led by Fidelity Investments, which has poured around $800 million into Lyft so far.
Lyft operates in the same number of U.S. cities as Uber, and has recently expanded into Toronto, Canada.