Cabify, a Madrid-based platform that competes against Uber in Spain and Latin America, said it has picked up $110 million in funding, which it plans to use in part to expand its existing footprint, expand its technology stack, and bring more electric vehicles into its fleet.
The company currently has 1.2 million drivers across eight markets that include cities in Spain such as Madrid and Barcelona as well as cities in Argentina, Chile, Colombia, Spain, Mexico, Peru, and Uruguay.
Cabify plans to triple revenues in the next three years while expanding to 25 more urban centers with populations of over 200,000.
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