Namma Yatri Planning To Enter U.S. Market: Report
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

Bengaluru-based ride-hailing company, Namma Yatri, is said to be in preliminary talks to venture into the U.S. market, in association with American unions.

What Happened: Namma Yatri is probing potential alliances with multiple unions in the US to carve a niche for itself against established players like Uber and Lyft, Moneycontrol reported, citing sources. The firm, which is currently functional in numerous Indian cities, aims to use these partnerships to navigate the U.S. market.

See Also: Adani Power Rises After Nclt Green Lights Proposal To Acquire Lanco Amarkantak Power

Payment solutions provider Juspay, which spun off Namma Yatri into a separate business in April, will continue to handle payments for the company’s U.S. operations. Juspay recently secured a payment aggregator license from the Reserve Bank of India and announced plans to enter international markets, including the US.

Namma Yatri’s U.S. market entry comes a month after the firm raised $11 million (around ₹91.94 crore) in its pre-series A funding round, led by Blume Ventures and Antler, with participation from Google and several other investors.

The company is set to compete with major ride-hailing services like Uber, Didi, Grab and Lyft in the US. Industry told the business news publication that Namma Yatri’s collaboration with unions could give it an edge, given the ongoing unrest among drivers and consumers in the US.

Read Next: Why This Brokerage Sees Texmaco Rail Shares Going Up Over 30


Engineered by Benzinga Neuro, Edited by Ananthu CU


The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.


Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
NewsFinancingStartupsMarketsTechNamma Yatri