Lyft valued at $7.5 billion

Lyft said it has closed a $600-million round of financing

Lyft, the San Francisco-based ride-hailing company, said it has closed a $600-million round of financing, valuing the company at $7.5 billion. New Lyft investors include private equity firm KKR, asset management firms Baillie Gifford and AllianceBernstein LP and the Canadian pension fund PSP Investments, the company told Bloomberg News.

Lyft, first known for its pink-mustachioed cars, last raised $1 billion at a $5.5 billion valuation in a December 2015 round led by General Motors This latest funding round includes existing investors Rakuten and Janus Capital Group.