Ride-sharing service Shohoz looks to further on-demand services after $15M investment

Ride-sharing service Shohoz has raised $15 million in pre-series B funding.

The round is led by Golden Gate Ventures and includes investment from Linear VC, 500 Startups and angel investor Koh Boon Hwee.

The Bangladesh-based business enables consumers to book car and motorbike rides as well as reserve bus seats and buy ferry tickets. It also offers movie tickets.

In a statement, Shohoz says the investment will go towards customer acquisition and retention as well as expansion into further on-demand services.

The statement adds that the company aims to create a single platform with “simple solutions to help consumers solve their daily needs and hassles.”

Apart from transport, this could include food, medicine and financial services.

 Shohoz was launched in 2014 but only added ride-sharing services at the beginning of this year.

Founder and managing director Maliha Quadir says: 

“We started with tickets, added ride-sharing in 2018, and are now executing on a grander “super-app” strategy.

The statement also draws similarities with ride-sharing in Indonesia, where services such as Grab have seen huge growth, in terms of the urban population and poor transportation infrastructure and a lack of taxi players.

Bangladesh is also hotly tipped as the next key Asian market.