Cabify is a multi-mobility platform for people and objects that offers various alternatives to reduce urban travel in private cars, taking advantage of technology to make cities better places to live.
Cabify's platform connects people with private cars and drivers to make getting around cities easier, safer and more enjoyable.
Cabify was founded in 2011 by Juan de Antonio. The company is headquartered in Madrid, Spain, with presence in 8 countries and more than 40 cities around the world.
Cabify operates as the contact point between customers and private drivers by means of its mobile app for Android and iPhone, as well as its web page. Users pay for the service via their credit card or PayPal account, with cash payments introduced in 2016. The payment system is protected by Symantec's Verisign security.
Cabify targets cities with more than 200,000 inhabitants. It currently has over 42 million registered users and 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 expanded its offering to include “multi-modal” services, specifically subscriptions across multiple forms of transportation. It also added grocery deliveries to its app. The company implements low-emission projects in both regions through alliances with manufacturers and in-app categories that only incorporate electrified vehicles (including plug-in hybrids).
Cabify is backed by Rakuten Capital, Endeavor Catalyst, European Investment Bank (EIB), Orilla Asset Management, AXIS' Fond-ICO Next Tech, Inter American Development Bank, Seaya Ventures, AngelList, Mutua Madrilena, and others. The company raised €101M ($110M) in a new round on Mar 28, 2023. This brings Cabify's total funding to $629M to date. The company's valuation for the latest round wasn't disclosed, but Cabify was last valued at $1.49B in a financing raised in July 2022.