LUXEMBOURG BASED LETTERONE(L1) INVESTS $200 MILLION

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As if Uber did not already have enough venture capital funding, Luxembourg Investment firm LetterOne has made the decision to invest $200 million into San Fransisco based Uber. Given their expertise in emerging market investments, the fund will use the investment to expand further into emerging markets.

L1 chairman Mikhail Fridman said; “… As entrepreneurs, with experience in retail, banking, telecoms and energy sectors, and knowledge of diverse developed and emerging markets, we believe that Uber’s highly talented management team possesses the necessary vision and skills to build the company into one of the world’s preeminent technology…”.

The fund has also said that it has earmarked a total of between $2 billion and $3 billion for investment in growing technology companies, so check back here for further updates on strategic partnerships! For more on riding or driving with Uber, see our helpful guides under the Driver Information tab!

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