Business

Cab hailing app Easy Taxi raises $40M so you catch a ride in more places around the world

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Image Credit: Kevin Poh via Flickr

Insta-cab mobile app Easy Taxi just raised $40 million in its fourth round of funding to make its service more widely available.

The Berlin-based company launched in 2011 out of tech incubator Rocket Internet, known for creating clones of successful tech products. Easy Taxi is one of the main go-to apps for people in search of a quick ride in Latin America, Africa, Asia, and the Middle East.

The company has roughly 185,000 drivers in its network and operates in more than 160 cities worldwide.

The company has raised $77 million to date, according to CrunchBase. Russian Phenomen Ventures led this round, with participation from Tengelmann Ventures, the investment arm of German retailer Tengelmann Group. The money will be used to help Easy Taxi capture an even larger share of the market in Latin America and Asia.
The company would be wise to stay out of the U.S., though, where the market is brimming with competition from mobile taxi reservation and ride sharing services like Uber, Hailo, Lyft, and SideCar among others.
Focusing on markets outside the U.S. is Rocket Internet’s signature move and one that serves the company very well, allowing it to profit on the markets that most major tech companies ignore.
We last covered Easy Taxi last October, when it raised a $7 million round.
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