The bus service - known as Smartbus, then SmartRide, then Ride - was launched in 2017 and terminated in 2019, while the Citymapper Pass lives on.Ĭitymapper's most recent company accounts show that it has racked up losses in excess of £20 million.

However, it has experimented with several products over the last few years including a 'smart' bus service and a 'Citymapper Pass' that can be used to access transport across London. At the time of the series B, it was valued at around $325 million, according to reports.Ĭitymapper has not had a clear and obvious revenue stream for much of its life. business register, show that Citymapper issued hundreds of new shares to investors across March, May, and August last year.Ĭitymapper raised a $10 million series A round led by Balderton Capital in 2014 and a $40 million series B round led by Index Ventures and Balderton in 2016. It's unclear exactly how much Citymapper raised from its existing investors last year but the figure could be in the order of several million pounds.ĭocuments filed on Companies House, the U.K. 'I don't think anyone wanted to invest in them because they have no business model,' they said.Īnother VC said: 'I don't think there was any interest in the C.' In 2018, Citymapper was hoping to raise between $10 million and $25 million in the series C round, according to a London-based venture capitalist with knowledge of the round who wished to remain anonymous because the talks were confidential. The app consistently appears in the top 10 free navigation apps in the App Store and the Google Play store. The urban navigation app, founded by former Google employee Azmat Yusuf in London in 2011, was planning to raise money on crowdfunding platform Crowdcube in April but it decided to postpone due to the coronavirus, according to the same former employee.'Azmat was aware of the fact that asking consumers for money in the midst of a pandemic and a recession was not a good look,' they said.Ĭitymapper's app provides transportation options for 42 cities worldwide including London, New York City, Moscow Boston, Seattle, Paris, Berlin, Hong Kong and Melbourne.

Citymapper app