Cabify, a Latin America and Spain-based private driver and taxi ride app, raised $12m in Series B funding round.
The round was led by Rakuten (4755:Tokyo) with participation from Seaya Ventures and others. In conjunction with the funding, Oskar Mielczarek de la Miel, managing partner of Rakuten FinTech Fund, joined Cabify’s board of directors.
The company intends to use the funds to expand operations in the 14 cities in which it offers its services throughout Spain, Chile, Peru, Colombia and Mexico. It also plans to open several new cities across Latin America.
Led by Juan de Antonio, founder and CEO, Cabify provides a private driver and taxi ride application for Latin America and Spain. Customers can select their location and vehicle type for on-demand pick up and enjoy payments with digital payments via credit cards and PayPal.
The company has operations in 14 cities in Spain and across Chile, Mexico, Peru, and Colombia.