Goldman Sachs confirms $1.6B investment in Uber

Uber is still raising money, it turns out, with a new $1.6 billion in convertible debt from Goldman Sachs.

In December, transportation company Uber announced it had raised $1.2 billion in new funding to help it expand in Asia, and now it’s raised more than the same amount from Goldman Sachs’s private wealth management clients, a spokesperson from the investment bank has confirmed to VentureBeat. Uber is also said to be in talks to raise a separate $600 million from hedge funds to add to its round from December.

At the time of its last funding round, Uber’s valuation hit $40 billion, and it brought its total funding to $2.7 billion. SEC filings at the time showed that Uber was looking to raise up to $1.8 billion — an additional capacity its current talks with hedge funds would finally fill.

Uber has recently faced a battery of criticism over privacy violations, drivers assaulting passengers, and invasive statements made by one its executives.

Uber was founded in 2009 by Travis Kalanick and Garrett Camp, and is headquartered in San Francisco.