Cabify

Cabify is a startup that aims compete with the likes of Uber and Bolt in the taxi industry, and mostly operates in the Spanish-speaking world.

The company has just received $110m in a funding round where they were able to raise capital from the likes of Orilla Asset Management and AXIS.

Cabify now has 1.2 million drivers

The ride-hailing application space has a lot of competition, as companies constantly look for ways to lower prices and improve their service relative to competitors.

Cabify has been exploding as of late, and has managed to increase their user base to over 42 million people across eight different countries. Their platform us currently accessible in 40 different cities, and they estimate that this number will explode as it becomes more well-known.

Over the next few years, the company plans to triple their profits and expand operations to even more cities and urban conurbations.

Cabify is a sustainable company

One of the most important trends over the course of the past decade in the world of investing has been the rise of the ESG phenomenon, which incentivises founders and CEOs make their companies as sustainable as possible.

As part of their commitment to the climate, Cabify have been pioneering the sharing of electric motorcycles, and hope to contribute significantly to the proliferation of such vehicles as an efficient alternative to owning rather than renting.

Cabify also chooses routes that their AI determines will arrive at the destination whilst also choosing the least polluting route.

To add to this, part of the $110m fundraise that the team has been designated to specifically work on their sustainable development goals, and to ensure that more electric vehicles are on the roads.

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