This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.
Cabify has obtained a loan of 70 million dollars (about 61.5 million euros) from the Inter-American Development Bank (IDB) that will be used to boost the mobility business it provides in the ten Latin American countries in which it operates as reported by the platform.
It is the first financing granted by this entity to a digital urban mobility business firm, according to the company founded by Juan de Antonio.
It is the first IDB loan to a digital urban mobility company.
Cabify will allocate financing to improve urban mobility by increasing the options of services offered to individuals and companies, to "optimize" the quality of service and promote innovation, and to a plan to improve the employment conditions of drivers.
De Antonio said in a statement that IDB support will allow the platform "to replicate its positive impact not only in cities, but in those who give it life on a daily basis."
Cabify, founded in 2011, as well as in Spain and Portugal, is also present in Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Panama, Peru, Uruguay and the Dominican Republic.
The platform achieves this financing for its business in Latin America while, in the case of Spain, last week announced its departure from Barcelona before the approval of the new regulations that require its services to be contracted at least fifteen minutes in advance.
This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article
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