Cabify, the Madrid-based startup that competes with the likes of Uber and 99 in Latin America as well as Spain and Portugal, has closed out another round of funding as competition continues to heat up in the on-demand transportation sector. Cabifys parent company Maxi Mobility has raised $160 million at a valuation of $1.4 billion, the company confirmed to TechCrunch today.
But its not a completely rosy picture. TechCrunch has learned and confirmed that the company is also undergoing a restructuring that one source says affects up to 10 percent of employees. Cabify has also changed CEOs, with Vicente Pascual who had been a co-founder of the company and its COO taking on the CEO role; and Ricardo Weder, who had been the CEO for o…
Read the full article at: https://techcrunch.com/2018/01/22/uber-rival-cabify-has-raised-another-160m-at-a-1-4b-valuation/