Funding round led by CapitalG takes valuation of ride-hailing company up to $11bn

The US ride-hailing company Lyft has secured a $1bn (£760m) investment from a Google-led consortium, a considerable war chest that will help finance its challenge to Uber in the US – and possibly overseas.

The funding round was led by CapitalG (formerly known as Google Capital), the strategic investment arm of Google’s corporate parent Alphabet, and takes the valuation of Lyft up to $11bn.

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