Business

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

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.
More information:

Easy Taxi was founded by Tallis Gomes in Rio de Janeiro, Brazil, in 2011 and is now one of the world’s leading mobile Taxi apps, present in 32 countries, 165 cities in four continents. Easy Taxi connect drivers and passengers in a sm... read more »

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12 comments
Ryan M Bertoldi
Ryan M Bertoldi

Exactly, execution is everything..and Rocket happens to have developed the capacity and the process to scale a business extremely quickly through 28+ countries worldwide..hence the multi-million€ business and world's largest internet incubator status.

Jacques Sun
Jacques Sun

It isn't about venture idea but execution. If it's so easy, people would go ahead with copycats and succeed at building multi-million businesses.

Ryan M Bertoldi
Ryan M Bertoldi

..and last time I checked this is how the entire country of China makes a monsterous living and GDP.

Ryan M Bertoldi
Ryan M Bertoldi

Very true, but when you're working in countries that have 1-10% internet penetration it's circa 98' in their world and you're offering a service that isn't a copycat at all.

Jibran Masud
Jibran Masud

They covered all major territories at least and traction look pretty much on the way with ads and the new round of funding

Liz Miller
Liz Miller

Go to http://www.lyftvsuber.com/ to try out Uber or Lyft for yourself! The website compares the two most popular ride-sharing services. $30, $25 of FREE ride credit for new passengers and up to $500 sign-up BONUS for new drivers!! Drivers can make as much as $40/hr! Hope you can see what all the hype is about :) Thanks!!