Cabify picks up Rakuten for $120m round

Apr 20, 2016 • Robert Lavine

Rakuten led Cabify's series C round having already led its $12m series B, and the ride booking platform will use the funding for further expansion in Latin America.

Spain-based ride hailing company Cabify has secured $120m in a series C round led by e-commerce firm Rakuten that valued it at $320m post-money, TechCrunch reported today.

Cabify operates a ride booking service that spans 14 cities across Spain, Chile, Peru, Mexico and Colombia. It plans to use the series C capital to expand into new markets beginning with Argentina and Brazil.

The other series C participants have not been disclosed, but Cabify CEO Juan de Antonio told TechCrunch they…

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