Cabify raises $8m series-A

Several Latin American angel investors also participated in the round, and the company will use the fresh funding to boost its expansion in that region.

In 2012, the firm raised €1.5m from network solutions provider Resolute Partners, seed fund Red Swan Ventures and several angels. The firm used the funding to expand into new markets and make additional hires in Madrid.

Company
Founded in 2012 and based in Madrid, Cabify has developed an app that allows users to book high-end chauffeur-driven cars. Payments are taken via credit card or PayPal, with journey prices fixed at the time of booking. The company offers a range of vehicles including executive and luxury cars, and its app is available for iPhone and Android.

Cabify operates in Madrid, Barcelona, Malaga, Bilbao and Vitoria in Spain alongside Lima, Santiago de Chile and Mexico City. According to the company, Cabify is seeing a monthly growth rate of 50% in Latin America. It has achieved more than 100,000 downloads since its launch.

People
Beatriz Gonzalez is founding partner and director of Seaya.

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• Topics
• Southern Europe
• Expansion
• Consumer
• Spain