Israeli Ride-Sharing Startup Gett Raises $200M

Israel’s ride-hailing mobility startup Gett, which also operates in Russia, New York, and the UK, has raised $200 million in equity and debt financing, a Tech Crunch report said Tuesday.

The sum puts the taxi company at a $1.5 billion valuation. Gett founder and CEO Dave Waiser told Tech Crunch this will likely be the last round the company takes before an IPO by the first quarter of 2020. The IPO will likely be in Israel or in London, Waiser said.

Gett has raised $790 million to date from existing investors such as
German auto giant Volkswagen.

The company operates in just four countries, including Russia, Israel, New York, and the UK, mainly for the business market and is often overshadowed by competitors like Uber and Lyft. In Israel, Gett has signed a sponsorship agreement with the Israeli broadcasting corporation “Kan” to transport members artists from 41 international delegations in Israel for the Eurovision Song Contest.

Gett taxis will be branded with the Eurovision logo, and the Gett app will be designed to entice tourists in the country for the song competition.