Total amount raised
$477 Millions
Latest funding date
02/01/2019
Location
Cabify has successfully raised significant funding over multiple rounds, establishing itself as a key player in the ride-hailing industry. The platform offers a range of transportation solutions for both individuals and companies, emphasizing safety, quality, and transparent pricing.
Keep reading to explore the intricacies of Cabify's fundraising journey and the investors backing this innovative platform.
What Is Cabify?
Cabify, a prominent ride-hailing service, was founded in 2011 in Madrid, Spain. The company offers transportation solutions for individuals and businesses, focusing on safety, quality, and transparent pricing.
Founded by Juan de Antonio, Cabify has grown significantly over the years. The platform provides various services, including geolocalized trips, identified drivers, and a security button for emergencies.
With a dedicated team, Cabify continues to expand its presence globally, employing over 1,000 people. The company remains committed to enhancing urban mobility through innovative and reliable transportation options.
How Much Funding Has Cabify Raised?
- Seed Round
- Amount Raised: $4 million
- Lead Investors: Emerge and Angel investors via AngelList
- Motivation Behind the Round: Initial funding to build out its presence in Spain and Latin America
- Series A Round
- Amount Raised: $8 million
- Date: April 1, 2014
- Lead Investors: Seaya Ventures
- Motivation Behind the Round: To bolster growth in Latin America, consolidate its position in existing markets, and expand its footprint, mainly in South America
- Series B Round
- Amount Raised: $12 million
- Date: October 12, 2015
- Lead Investors: Rakuten (via Rakuten FinTech Fund)
- Motivation Behind the Round: To expand operations in existing cities and to open new cities across Latin America
- Series C Round
- Amount Raised: $120 million
- Date: April 20, 2016
- Lead Investors: Rakuten
- Valuation at Round: $320 million
- Motivation Behind the Round: Expansion in Brazil and Argentina, establishing connections with other apps, and seeking partnerships with car manufacturers
- Series D Round
- Amount Raised: $100 million
- Date: May 2017
- Lead Investors: Rakuten, Seaya Ventures, AngelList
- Motivation Behind the Round: To bolster its position in Latin American markets where it competes with Uber and Easy Taxi
- Series E Round
- Amount Raised: $160 million
- Date: January 23, 2018
- Lead Investors: Rakuten Capital, TheVentureCity, Endeavor Catalyst, GAT Investments, Liil Ventures, WTI
- Valuation at Round: $1.4 billion
- Motivation Behind the Round: To improve operations in existing countries, continue to invest in security, and develop a new payment system for people without a bank account
Cabify has raised a total of $404 million with a current valuation of $1.4 billion.
Key Investors
- Rakuten
- Details: Rakuten is a Japanese e-commerce and internet services company. It has a significant presence in various sectors, including e-commerce, fintech, and digital content.
- Investment Focus Areas: E-commerce, fintech, digital content, communications
- Notable Investments: Lyft, Pinterest, Viber
- Seaya Ventures
- Details: Seaya Ventures is a venture capital firm that focuses on high-growth technology companies. It has a strong presence in Spain and Latin America.
- Investment Focus Areas: Technology startups, Spain, Latin America
- Notable Investments: Glovo, Spotahome, Wallapop
- TheVentureCity
- Details: TheVentureCity is a global accelerator and venture capital firm. It supports startups with funding and growth strategies.
- Investment Focus Areas: Startups, growth, scaling
- Notable Investments: Returnly, Reloadly, Spotahome
- Endeavor Catalyst
- Details: Endeavor Catalyst is a co-investment fund that supports high-impact entrepreneurs in emerging markets. It aims to foster economic growth and job creation.
- Investment Focus Areas: High-impact entrepreneurs, emerging markets
- Notable Investments: Rappi, Globant, Creditas
- AngelList
- Details: AngelList is a platform that connects startups with angel investors. It facilitates early-stage investments across various sectors.
- Investment Focus Areas: Early-stage startups, technology
- Notable Investments: Uber, Thumbtack, Postmates
What's Next for Cabify?
Cabify's future is brimming with opportunities, particularly in Latin America, where the ride-hailing market is still young and ripe for growth. The company plans to enhance its operations in existing countries, invest in security, and develop new payment systems for the unbanked. With a strong corporate transport solution already in place, Cabify aims to expand its user base and corporate client list, leveraging its local market knowledge to outcompete rivals like Uber and Easy Taxi.
Future fundraising seems promising, given the successful Series E round and the company's $1.4 billion valuation. Cabify may pursue additional funding rounds to fuel its expansion and technological advancements. However, challenges such as intense competition, regulatory hurdles, and ensuring service reliability could pose significant obstacles. Navigating these challenges while maintaining a sustainable growth strategy will be crucial for Cabify's continued success.
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