Cabify raises $4m series-B

Black Vine also participated in the round alongside investors from Latin America.

The capital injection is part of the firm's series-B round, which is expected to complete in the coming months with a further capital commitment. 

Previous funding
Cabify has raised $16m to date, across its seed funding and series-A rounds. 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.

Earlier this year, Cabify raised $8m in a series-A led by Seaya, with support from Latin American investors. The fresh funding was used to expand into Latin America.

Company
Founded in 2012 and based in Madrid, Cabify's app allows users to book and pay for chauffeur-driven vehicles. The company offers a range of vehicles including coaches, and executive and luxury cars. Its app is available for iPhone and Android.

Cabify's turnover is growing at a 30% monthly rate, according to the company. The business employs 100 staff across four offices in four countries and has 2,000 drivers on its books.

Cabify currently operates in Madrid, Barcelona, Coruña, Málaga, Bilbao, Vitoria, Lima, Santiago de Chile and México.

People
Beatriz Gonzalez is founding partner and director of Seaya.

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• Topics
• Southern Europe
• Consumer
• Expansion
• Spain