Uber hires Goldman Sachs to power up its fundraising drive

Jessica Morris
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Uber has hired Goldman Sachs to help it raise funds (Source: Getty)

Uber has hired Goldman Sachs to help it raise funds from some of the bank's richest clients.

It is offering financial products that could raise hundreds of billions of dollars, and help aid Uber's future international expansion plans, Fortune has said.

This is separate to a previous report from Bloomberg, which said Uber was in early talks to raise $1bn to fund growth.

The ever-expanding taxi app is already available in 50 countries including the US, UK, Hong Kong and Singapore.

Goldman Sachs is already an institutional investor in Uber, according to the Financial Times.

If the company opted to float, it's likely the investment bank would vie for a leading role. However, at present, it has no confirmed plans to do so.

To date, Uber has raised funds from, among others, Fidelity Investments, Google Ventures and BlackRock.

The ride-sharing service, which is headquartered in San Francisco, has courted controversy since coming to London around two years ago.

London's Licensed Taxi Drivers Association organised thousands of cabbies to stage a protest against the company, bringing London's streets to a standstill in June.

They were joined by cab drivers from all over Europe who were unsatisfied with Uber's regulatory status.

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