Additional funding to accelerate growth for ride-sharing leader in Latin America
Madrid, Spain Apr. 20, 2016. Cabify, the leading ride-sharing app of the Spanish-speaking world, today announced a new round of funding led by Rakuten, Inc., to further scale operations across Latin America and Europe. Cabify operates a platform for high-end on-demand car services for consumers and businesses and has seen unprecedented growth on the back of its state-of-the-art technology and first-class service.
Since its last investment round in July 2015, Cabify has continued to rapidly expand its footprint and to consolidate its strong leadership position in 14 cities across Spain, Mexico, Peru, Chile and Colombia. This $120 million dollars in new funding will allow Cabify to accelerate growth in existing markets and expand its reach into new markets.
“We are excited to strengthen our relationship with Rakuten, a great partner who understands our long-term goal of disrupting the vehicle ownership model”, said Juan de Antonio, CEO of Cabify. “Thus far, Cabify has thrived on providing high-quality service to a repeat loyal customer base. We plan to continue to replicate that model across Latin America and Europe to consolidate our leadership position.”
Commenting on leading the latest investment round, Oskar Mielczarek de la Miel Managing Partner at the Rakuten FinTech Fund said, “Cabify is rapidly consolidating its position with a very systematic and disruptive approach and Rakuten is passionate about empowering leadership in innovation. Cabify has an outstanding management team led by Juan de Antonio, whose vision uniquely places Cabify in a position to enter the next level of technological competition.” Oskar Miel also serves as a Board Director of Cabify.
According to Beatriz González, Board Director and partner at Seaya Ventures, Cabify has a strong understanding of its various local market conditions, including a strict compliance with local regulations. As part of its comprehensive mobility solution, Cabify is already adding options such as regular taxis and cash-payments in countries like Peru, Colombia, Brazil and Spain.
“We aspire to be more than just a personal chauffer service, “ says Juan de Antonio. “Cabify will be a one-stop transportation platform for all value-added services across various customer types.”
Cabify, founded in 2012, is a transportation services platform with operations in 14 cities across Latin America and Spain. With Cabify, customers enjoy seamless on-demand pick-ups, safe traceable journeys and hassle-free electronic payments. Using Cabify, riders receive better, faster service at more competitive prices.
For more information visit http://www.cabify.mx/press
About Rakuten, Inc.
Rakuten, Inc. (TOKYO: 4755) is one of the world’s leading Internet services companies, offering a wide variety of services for consumers and businesses with a focus on e-commerce, finance, and digital content. Since 2012, Rakuten has been ranked among the world’s ‘Top 20 Most Innovative Companies’ in Forbes magazine’s annual list. Rakuten is expanding worldwide and currently operates throughout Asia, Europe, the Americas and Oceania. Founded in 1997, Rakuten is headquartered in Tokyo, with over 12,000 employees worldwide.
For more information visit http://global.rakuten.com/corp/