Taxify, an Estonia-based taxi hailing company, raised $175m in funding.
The round, which brings Taxify’s valuation to $1 billion, was led by Daimler, with participation from Korelya Capital, and Taavet Hinrikus, which joined existing investors Didi Chuxing. In conjunction with the funding, Daimler will join Taxify’s board.
The company intends to use the funds to develop its technology and further expand into its existing regional markets across Europe and Africa.
Founded in Estonia in 2013, Taxify operates a platform connecting riders to private drivers or licensed taxis in Europe and Africa.
The service is currently used by over 10 million passengers and 500,000 drivers in over 25 countries (have a look at the list here).