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ETF News

Lyft lands $600 million in fresh funding

SAN FRANCISCO, April 11 (Reuters) - Ride services company Lyft has raised $600 million in fresh funding, one of its investors said on Tuesday.

Private equity firm KKR & Co said it had joined a $600 million financing round, giving a sizeable financial boost to San Francisco-based Lyft as it continues to compete fiercely with rival Uber Technologies Inc.

Sources close to Lyft said last week the company was close to completing a funding round that would value the firm at $7.5 billion, a sharp increase from the $5.5 billion valuation at Lyft’s last financing more than a year ago. (Reporting by Heather Somerville; Editing by Tom Brown)

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