Cabify has raised $110 million in funding with the participation of Orilla Asset Management (Francisco Riberas’s direct family investment firm) and AXIS through Fond-ICO Next Tech, and its commitment to sustainable and technological mobility, among other investors.
Resources are added to the previous round by Mutua Madrileña in July 2022 and a loan from the European Investment Bank (EIB).
The idea is that this way the strategic plan can be accelerated and the firm can project as well. significant increase in revenue volume and profitability.
The company plans to triple its global revenue in the next 3 years.
With this new capital injection, it will increase its market share in the countries where it operates and expand to more than 25 cities in Latin America and Spain, among other projects. Cabify’s expansion targets include cities with more than 200,000 inhabitants.
At the end of 2022 and as a result of the closure of the platform’s operations
beat in Latin AmericaCabify has signed a collaboration agreement with this company to reference Cabify as a preferential mobility alternative for passengers and drivers.
The company is expected to maximize the impact of this collaboration with new resources and continue to improve mobility in the region.
In addition, the company stated that it will continue to invest in new business lines such as Cabify Logistics, The unit implemented to transform the logistics needs of companies.
Among the priority commitments Cabify expects to undertake in the coming years are:
highlights the roadmap for reducing mobility emissions.
The Spanish multi-transport company has set a target of all journeys made on its platform in zero-emission vehicles by 2025 in Spain and 2030 in Latin America.
Electric mobility projects are being launched in both regions, progressing through alliances with manufacturers. and with the activation of categories
only include electric vehicles (plug-in hybrids, electric, etc.)
“The project is experiencing a stage of maturity and sustainable growth that is unmatched in its industry.
Our goal is to accelerate our strategic plan and we foresee an increase
Significant in turnover and profitabilityIn fact, as an estimated preview of its economic results, the company’s turnover in 2022 is already 24% higher than in 2019 and 32% higher than in 2021.Cabify CEO Juan de Antonio said.
The company has more than 1,000 employees in Spain and Latin America. Today, operating in 7 countries and more than 40 cities, the company has more than 42 million registered users and 1.2 million cooperative drivers and taxi drivers.
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