Hailo readies for New York’s taxi app showdown with $30 million in funding

- Dec 25, 2012 8:56 am

Skift Take

Although valued at nearly half of Uber, Hailo has been thoroughly preparing for a full-throttle launch in 2013 by building a rapport with drivers and securing this second round of funding.

— Samantha Shankman

Hailo, the European taxi-hailing app, is raising a large round of funding as it prepares to do battle in the U.S. market, specifically in New York City.

The London-based company is poised to close a $30 million in Series B funding, according to multiple sources close to the situation, with the likely lead investor being Fred Wilson of NYC-based Union Square Ventures.

The new round values Hailo at about $140 million, sources said. That’s a discount from competitor Uber, which was valued at more than double that amount when it raised funding a year ago.