U.S. Whizz nabs $3.4 million in seed financing round

Whizz, a U.S.-based last-mile delivery drivers' electric-bike subscription platform provider, has raised $3.4 million in a fundraising round.

The seed round, which has boosted the company's total funding secured so far to $4.5 million, was backed by Joint Journey, TMT Investments and a horde of angel investors.

The monies will enable Whizz to fuel its explosive growth and intensively upgrade the Whizz automation platform, its one-of-a-kind enterprise resource planning system for business process automation.

In addition, the company also intends to utilize the new financing to set up new locations in New York, equipped with lounge zones, bike maintenance and repair stations, and overnight storage facilities.