Transit raises $5 mln Series A round led by Accel Partners

Montréal-based urban transportation app Transit has secured $5 million in a Series A financing. The round was backed by existing Canadian and U.S. venture capital firms, among them Accel Partners, which led. Accomplice, BDC Capital and Real Ventures also invested. Launched in 2013 by CEO Sam Vermette and CTO Guillaume Campagna, Transit's app helps millions of users in more than 130 cities navigate local transport options and plan trips. The company said it will use the funds raised to further develop and enhance its technology.

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