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 tech Uber ” has raised $ 100 m in a Series venture funding round to expand its Spanish and Latin American offerings . The round was led by Japanese web giant , Rakuten , which put in a fresh $ 92 m further to the $ 3 m it invested last year , because , according to the Wall Street report , it is interested in Cabify ’s Latin American presence and “ willingness to work with customers . ” Rakuten also participated in a $ 1bn round in Lyft earlier this year .