Estonian start-up Taxify raises $ 175 million to finance expansion in Europe and Africa
Taxify, an Estonian start-up that operates a driven transport (VTC) business, announced it has raised $ 175 million from Daimler, a German financial services provider and automaker.
The European venture capital fund Korelya Capital, the Chinese giant VTC Didi Chuxing, and Taavet Hinrikus, co-founder of the transferWise UK money transfer platform, participated in this fundraising alongside Daimler.
“We want to build the future of mobility. For this, we will conquer markets in Africa and Europe to get more people to opt for on-demand transport, “said Markus Villig, co-founder of Taxify.
Taxify, which has nearly 10 million passengers on its platform since its creation, is particularly present in Nigeria, the largest economy in Africa. However, it must face the strong competition imposed by local players or the American Uber.