Cabify Raises $66 Million for Spanish Rideshare Platform
Photo Credit: Cabify plans to expand further into Spain and Latin America. Cabify / Cabify
Skift Take
The startups this week cover a wide range of industries: rideshare, hospitality buying, audio entertainment, hotel restaurant reservations, business travel planning, and travel insurtech.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at jd@skift.com if you have funding news.Seven travel tech startups raised more than $102 million this week.
>>Cabify, a rideshare platform, has raised $66.4 million in capital from Orilla Asset Management, AXIS, and others. The amount reported includes an investment by Mutua Madrileña in July 2022.
The company also received a loan of €40 million ($43.6 million) from the European Investment Bank in May 2022.
Madrid-based Cabify users can book a ride in a branded or other taxi through the company’s mobile app. Cabify also partners with other companies to provide a taxi service for corporate transport, events, and shipping and logistics. Users with access to a corporate account and book on ride on the Cabify mobile app.
Founded in 2011, the company has more than 1,000 employees in Spain and Latin America. The company currently operates in more than 40 cities in seven countries and has more than 42 million registered users and 1.2 million drivers.
