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Myanmar ride-hailer's CEO looks to raise funds

Oway's Kumar says next round 'will be one of most sizable fundraises in country'

Myanmar has a messy transport system, which complicates the picture for ride-hailing companies.   © Reuters

HANOI -- Oway, Myanmar's largest online travel and ride-hailing company, is in the market to raise capital to ramp up its expansion across the country.

Founded in 2012, Oway started out as an online travel platform and entered the ride-hailing market in 2015. The company has to date raised total funds of $24.7 million from investors including the International Finance Corporation, Singapore-based private equity firm Northstar Group, Japan's Daiwa PI Partners Openspace Ventures, Emerging Markets Investment Advisers and Belt Road Capital Management.

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