Cabify

Cabify, based in Spain, is a mobility platform that connects users with professional drivers through a mobile application, enhancing urban transportation efficiency and safety. Founded in 2011 in Madrid, Spain, Cabify operates as a ride-hailing service that enables users to book rides from licensed drivers. The company has executed a total of 15 deals and recently raised EUR 20 million in funding on June 14, 2024, with participation from investors including Mutua Madrileña, Orilla Asset Management, and Rakuten Capital. The founders of Cabify include Adrian Vítores, Francisco Montero, Juan Antonio, and Vicente Pascual, who have established their expertise in the mobility sector through this venture.

Cabify is a technology-driven mobility platform that offers ride-hailing services through a user-friendly application. Users can request rides from professional drivers in modern vehicles, ensuring safety and convenience during urban travel. The service provides geolocalized trips, verified drivers, and a dedicated safety feature. Cabify targets individual consumers and corporate clients, delivering tailored transportation solutions across over 40 cities in six countries, including Spain, Portugal, Mexico, Colombia, Chile, and Argentina, while focusing on issues of safety, efficiency, and transparent pricing.

In 2023, Cabify reported revenue of EUR 162,089. 70 and an EBITDA of EUR 4,435. 70, generated through ride transactions facilitated by its mobile application. The company utilizes a commission-based model for fare charges, which vary according to distance, time, and demand.

Additionally, Cabify partners with corporate clients to offer employee transportation services and provides a subscription model for businesses, allowing for better management of travel expenses. In June 2024, Cabify raised EUR 20 million in venture funding to support its expansion plans. The company intends to leverage this funding to enhance its business plan, which includes the development of new products and services to improve user experience. Cabify is also exploring opportunities to enter new geographic markets, although specific regions have not been disclosed.

The funding will facilitate these initiatives as Cabify seeks to strengthen its position in the mobility sector.