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 round was led by Japanese web giant, Rakuten, which put in a fresh $92m further to the $3m it invested earlier this year, because, according to the Wall Street Journal, it is interested in Cabify’s Latin American presence and “willingness to work with regulators.” Rakuten also participated in a $1bn round in Lyft last year.