Bounce, a two-wheeler rental startup for commuting, completed debt finance funding of $3 million from Sachin Bansal-led investment firm BACQ Acquisitions Pvt Ltd.
According to information shared by Paper.vc, BACQ Acquisitions payed Rs 10 crore as last tranche of the debt funding announced in last March.
The move comes at a time when the company declared Series C funding. Besides Falcon Edge Capital based out of New York, the round was led by B Capital Group.
The company, which recently completed 2 million ride mark, wants to deploy over 50,000 vehicles during this year.
India is currently facing huge mobility challenges across its Tier1, Tier2, Tier3 and Tier4 cities as these cities are registering exponential growth.
Instead of massive infrastructure in public infrastructure government is also coming up policies for promoting EVs and sharing platform companies across India.