The amount of the funding was not disclosed.
The company, which was initially valued at €500k, intends to use the capital to continue to develop the platform and expand the business in the major metro areas nationwide (firstly Turin and Rome).
Co-founded by Matteo Pellegrini (CEO), Adrian Miotto (CTO) and Niccolo Nannini (CFO), Cabeo allows users to book a taxi via an iPhone and Android app, which leverages a geolocalization system. It currently works with Milan-based licensed taxi drivers.
This is the second investment for Giorgio DiStefano’s Key Capital, which had already backed CheckBonus.