Ride-Share Firm Cabify Said to Seek Funding, Sign Latam Deal
- Cabify wants to raise at least $300 million in new funding
- Madrid-based company also signed a partnership with Easy Taxi
The M30 speedway in Madrid, Spain.
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Spanish ride-sharing company Cabify is seeking at least $300 million in new funding as it works to expand in its current markets, according to people familiar with the matter.
The Madrid-based company is working with Bank of America Corp., the people said, asking not to be identified because the deliberations are private. The company, which is currently valued at about $1 billion, may wrap up the fundraising in the coming months, one of the people said. The new capital would add to the $100 million Cabify raised in April, according to a regulatory filing.