![]() And it has taken an even greater hit during the Covid-19 pandemic. Its accounts show it has burned through £30m of venture capital cash from backers LocalGlobe, Index Ventures and Benchmark. In its latest numbers for 2019, Citymapper lost £8.9m, although revenues increased tenfold to £5.8m. More than 50m people now use the app and Yusuf, a former Google engineer, has grand plans to take on Google Maps by expanding into every major city in the world. But despite what on the surface appears to be growing success, the 10-year-old start up has yet to make a profit. His frustration led him to create Citymapper in 2011, an app that allows users to navigate the complex labyrinth of their city’s transport system. “I thought it was just me who had this problem, like everyone knew what was going on with the buses and I was the only idiot who needed help.” “I was trying to figure out how to get back home at 3 o’clock in the morning,” he recalled during an on-stage interview. ![]() ![]() After one too many early morning attempts to navigate London’s night buses, Azmat Yusuf was fed up.
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