VC-backed Taxify raises $175m

Korelya Capital took part in the latest financing, as well as Chinese ride-sharing app Did Chuxing and Transferwise founder Taavet Hinrikus.

The fresh capital will be used for further geographical expansion in Europe and Africa.

The latest funding round takes the company's valuation past the $1bn mark, according to press reports.

Previous funding
Taxify had only raised €1.4m prior to the latest funding round. TMT Investments led the investment alongside Rubylight in December 2014.

Company
Established in 2013, Taxify is a provider of taxi dispatch software. The company's software connects its users to private drivers as well as licensed taxis. The firm is headquartered in Tallinn, Estonia, and claims it has 10 million users across 25 countries in Europe and Africa.

People
Taxify – Markus Villig (founder).

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• Topics
• Expansion
• CEE
• Technology
• Venture
• Estonia