Cabify, the Madridbased Uber rival, says its raised $110M in new funding

News Summary

  • The EIB loan, which was earmarked for this effort, is being used to roll out 1,400 electric vehicles and charging stations in Spain.The latest on this front is a call for tenders the company will make this year to acquire vehicles and charging infrastructure.
  • It’s 2023, and we’re years past the peak of monster fundraising for on-demand transportation and delivery startups locked in highly competitive races with each other to dominate urban consumer mobility.But with many of the biggest and most tenacious players still in the market, those rounds have not disappeared altogether.
  • It says its plan is to triple revenues in the next three years while expanding to 25 more urban centers with populations of over 200,000.The funding is a mix of equity and debt, the company tells me.
  • (Cabify works with drivers who have their own vehicles, but it has also built out its own fleet, Vecttor, which operates in Barcelona, Madrid, Valencia, Sevilla y Málaga, and is 95% “eco or zero” labeled.
Its 2023, and were years past the peak of monster fundraising for ondemand transportation and delivery startups locked in highly competitive races with each other to dominate urban consumer mobili [+3841 chars]