- Mercedes-Benz-owner, Daimler will join the board of the European ride-hailing company, Taxify.
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Taxify raises $175 million investment funding, here are the new investors
Taxify says it will use investment to further expand the platform’s availability to drivers and riders in more cities, apart from Lagos and Abuja where it is already in use
Taxify, a European ride-hailing company with operations in Nigeria, has completed an investment round of $175 million.
The company will use the investment to further develop its ride-hailing technology and continue working on best ways to move in cities, particularly in Europe and Africa.
The investment round was led by global automotive leader Daimler that counts several European mobility and technology companies amongst its portfolio. Daimler will also join the board of Taxify in a round that brings it’s valuation to $1 billion.
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The new investors are:
1. European venture capital fund Korelya Capital
2. TransferWise co-founder Taavet Hinrikus
3. Didi Chuxing.
Uche Okafor, Nigeria country manager for Taxify said: “This investment is exciting for Taxify in Nigeria as it will provide additional momentum to expand the platform’s availability to drivers and riders in more cities, apart from Lagos and Abuja where it is already in use.”’
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Taxify launched in 2013 in Estonia with the then 19-year-old Markus Villig borrowing college money from his parents to build the first version and personally recruiting first drivers to the platform. Today, Taxify is one of the fastest-growing ride-hailing companies in the world with over 10 million passengers and 500,000 drivers in more than 25 countries.
Markus Villig, CEO and co-founder, Taxify said: “We’re on a mission to build the future of mobility, and it’s great to have the support of investors like Daimler and Didi. The number of rides on Taxify grew by ten times last year, even considering that our home markets Europe and Africa are some of the most complex markets for ride-hailing in the world. Today, more than ten million people globally use Taxify. But this is just the beginning as more and more people give up on car ownership and opt for on-demand transportation.”
In November 2017, Taxify launched in Abuja in its expansion move to major cities, despite the setback it encountered almost immediately after its launch in London.
Few weeks ago, riders from different parts of Nigeria complained about the multiple charges on ride fares.
The riders, who have taken to Twitter to express their disapproval, claim the transportation network company is defrauding riders, who have attached their electronic debit cards to their Taxify account.
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