Uber Just Raised Another $1.6 Billion And It's Raising $600 Million More

In December, Uber announced a $1.2 billion fundraise at a $41 billion post-money valuation, with room to spare for additional, strategic investors.

The company was also rumored to be in talks with Goldman Sachs and its private, wealthy clients on a convertible debt deal.

Now, Goldman and Uber have worked out a $1.6 billion convertible debt round that is completely separate from the December fundraise. Uber is also raising an additional $600 million from hedge funds to complete the $1.2 billion financing round from late last year. Bloomberg's Serena Saitto first reported the fundraises, which Business Insider has confirmed.

This brings Uber's total funding to more than $4 billion since its launch in 2010. A large chunk of the cash will be used to further Uber's expansion, particularly in Asia. It will also be used to further its UberPool product, which allows city residents to split fares and trips with each other, which makes rides significantly cheaper.

Uber declined to comment on the fundraise and convertible debt round.