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French startup LeCab scoops up USD6.8 million in Series B funding

November 19
12:26 AM 2013

French startup LeCab snagged USD6.8 million (EUR5 million) in Series B funding. However, the company did not disclose the investors. There was a non-disclosure agreement in the traditional equity round. This was according to a report published by TechCrunch.

LeCab is a company in France that provides black car service. This is a luxury car service that charges flat, predetermined rates. With this type of service, customers can reserve cars hours or even weeks in advance, according to the Black Car site.

After a customer reveals his destination, the company gives a fixed charge regardless of the traffic. LeCab can track the locations of all its drivers and can redirect them in real time. Each vehicle comes with an iPad. Clients can view the car on a map, access newspapers and movies and other services from the backseat. This system is similar to one found on a plane, the TechCrunch explained.

The car service company will use the new round of funding for the expansion of its services. LeCab aims to reach 350 cars before the end of 2013. The company also plans to reach a thousand cars by 2014. In addition, Lecab will add senior executives to its manpower, the report said.

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