Maxi Mobility, the holding company of Cabify, has raised 160 million dollars, 130 million euros, in financing to continue with the expansion in markets in which they are already present.
The platform is now available in more than 130 cities in up to 14 territories including Latin America, Spain, and Portugal. This capital will be focused, mainly, in continuing to increase its network in the Latin American territory.
The main investors in the Cabify business have been heavyweights such as Rakuten Capital, the investment arm of the Japanese marketplace, TheVentureCity or Endeavor Catalyst, as well as Spanish and Latin American investors.
"We are excited to receive this new group of investors, as well as to continue strengthening our relationship with Rakuten", explained the CEO of Maxi Mobility, Juan de Antonio, in a statement made public by the company. "We share a vision of transforming mobility in cities and improving the quality of life for its inhabitants," says the note.
Cabify closed the year 2017 with an overall growth of more than 500% in terms of revenues and the number of trips requested and even tripled the number of users.
That has not served to get away from the controversy, especially by the complaints of the guild of taxi drivers, who believe that the services provided by Cabify pose unfair competition. The taxi also maintains its historical protests affirming that the vehicles with license VTC, the system that uses the platform, systematically break the law.
The above article was written and published in Spanish and has been translated into English. Click here to read the original article.
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