TOKYO—Japanese e-commerce company Rakuten Inc. is investing an additional $92 million in Cabify, one of the biggest ride-hailing companies in Latin America, Cabify’s chief executive said. Rakuten’s investment is a part of the latest round of funding for Cabify in which it is raising $120 million, said Juan de Antonio, Cabify’s CEO. After the financing, Cabify would be valued at around $320 million, he said. Cabify’s...
Cabify, often known as “the Spanish Uber” has raised $120m in a Series C funding round to expand its Spanish and Latin American operations. The company is also expanding into the Middle East with plans for an office in Dubai that will be open by mid-2017. Rakuten also participated in a $1bn round in Lyft earlier this year.