Uber has expanded its latest round of financing by $1 billion. The company originally secured $1.2 billion and has increased that to a total capacity for the Series E round at $2.8 billion, according to the NYT.
Uber has confirmed the expansion with the following statement:
The participation we have seen in Uber’s Series E underscores the confidence investors have in Uber’s growth and the key priorities of UberPOOL and further international expansion.
With the new money, Uber will continue investing in expansion, likely in Asian regions, as well as the UberPool service. Uber has raised a total of nearly $5 billion since launching in 2009.
You can check out more information on the expansion here at VCExperts.
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