Uber raises $1.6 billion for expansion

Uber app on a mobile phone
Victor J. Blue | Bloomberg | Getty Images

Uber is setting its sights on international expansion.

The car-booking behemoth raised $1.6 billion in convertible debt from Goldman Sachs Group's wealth management clients, the investment bank confirmed with CNBC Wednesday.

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The San Francisco-based company is also aiming at raising $600 million from hedge funds and international strategic investors in order to add to its December financing of $1.2 billion, according to a report from Bloomberg. The convertible bond carries a coupon that increases over time if Uber hasn't gone public within 4 years.

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Uber's 'amateur' taxi drivers
Uber's 'amateur' taxi drivers

The company recently made headlines after Travis Kalanick, Uber's CEO, said the car service provider will create 50,000 jobs in Europe this year.

Uber Technologies declined to comment.

—Arjun Kharpal contributed to this report