Cabify, a Madrid, Spain-based ride-sharing app for the Spanish-speaking world, raised $120m in Series C funding round.
The round was led by Rakuten, Inc. (TOKYO: 4755), one of the world’s leading Internet services companies.
The company intends to use the funds to continue to further scale operations across Latin America and Europe.
Led by Juan de Antonio, CEO, Cabify operates a platform for high-end on-demand car services for consumers and businesses offering services in 14 cities across Spain, Mexico, Peru, Chile and Colombia.
Beyond Rakuten, the company is backed – among others – by Seaya Ventures, E-merge, Red Swan Ventures, Resolute Partners.