Lyft has reportedly raised a new round of funding to support its on-demand ride hailing service, VentureBeat reported. It’s believed that investors have put $500 million more into the company’s coffers, probably invigorated by its recent market growth and Uber’s stumbles. Financial Times and The Wall Street Journal were the first publications to report this fundraise, but the valuations were different, with the former saying $6.9 billion while the latter said $7.5 billion.