Ride-sharing company, Uber, has raised $1.6 billion in convertible debt from wealth management clients of Goldman Sachs.
The U.S.-based company, which became popular for allowing people to summon rides just by clicking a button, will use the money in order to build its presence in international markets, invest in development and research and improve safety, according to a Bloomberg report.
Uber is also in talks to raise another $600 million under its E funding round, according to Reuters.
Back in December, the company said it raised $1.2 billion during its latest round of funding and had additional room for strategic investments. The San Francisco-based company is currently the most highly valued venture-backed start-up in the world, worth nearly $41 billion.
The company has had a busy month. Earlier this week Uber announced it would start directing people to a cab company in South Korea's third largest city to try fixing its business in order to comply with local regulations.
Uber has been suspended in countries like Germany and India, and a number of U.S. states as well, over legal issues. The app was banned in Spain back in December, and earlier this month, the European Union's top court denied non-traditional cabs the use of bus lanes in London.
Uber co-founder and CEO Travis Kalanick said in Germany this week that the controversial company will create 50,000 new jobs in 2015 across Europe in places that are willing to make deals with Uber.
Kalanick has plans to create thousands of full-and-part-time jobs in areas where the app is still allowed to run. Uber currently offers a number of local transportation options in Europe, from professional limousine services to informal ride-sharing options.
Despite all their issues, Uber continues to expand into more than 250 cities around the globe.
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