Cabify hits 13 million customers globally, raises $160 million from Rakuten and others at $1.4 billion valuation

Spain-based ride hailing app maker Cabify has raised another $160 million to compete more efficiently against Uber and others. According to El Español and the FT, the company is now valued at $1.4 billion after raising the new round, which comes from Rakuten, The Venture City, Endeavor Catalyst and GAT Investments, among others.

Nine months ago, Cabify secured $100 million.

Globally, the company has 13 million users in Latin America, Spain and Portugal, and CEO Juan de Antonio has commented that the fresh capital will be used to improve operations in existing markets.