Fast Track to raise $50 mn from investors to compete with Ola, Uber

The 17-yr-old firm plans to expand its business across the country

Fast Track Call Cabs, one of the leading cabs service in the country, is planning to raise around $50 million from investors. The money will be utilised by the company to expand its operations and to take on cab aggregators Ola and Uber.

C Ambigapathy, managing director, Fast Track said that after the entry of foreign aggregators, around 25 companies have vanished in Tamil Nadu alone. Fast Track, however, has managed to survive for the past 17 years.

The company claims that it is the first call taxi in the state.

"We did not expand the way Ola and Uber did because we did