Taxibeat, an Athens, Greece-based mobile taxi-hailing startup, closed a $4m funding.
Hummingbird Ventures made the investment.
The company intends to use the funds to expand in its current markets (Athens, Paris, Mexico City, Rio de Janeiro and Sao Paulo) and in new markets in South America and Southern Europe.
Founded in May, 2011 by Nikos Drandakis, CEO, Taxibeat features a rating system that enables passengers to make an informed choice when looking for a ride and gives taxi drivers, who pay a small commission on rides they earn through Taxibeat, the tools to better understand and serve customers. The app also provides driver profiles (i.e. spoken languages, types of cars and interior amenities).
Taxibeat currently serves $40 million (USD) in taxi cab transactions annually.
The company has raised $7m in total.
15/07/2013 Taxibeat Raises $2M in Funding