Easy Taxi Raises US$40 million in Series D funding.
Rocket Internet’s very own Easy Taxi has recently managed to secure over US$40 million in Series D funding from a bundle of investors, contributing to its growing efforts in Asia and Latin America.
This round was led by an international group of investors, these included German Tengelmann Ventures, the investment company behind multi-sector retailer Tengelmann Group, and Russia’s Phenomen Ventures, this money shall provide a great boon for Easy Taxi as it aims to become the top taxi application in various markets.
According to Dennis Wang, Co-CEO, Easy Taxi shall utilize these funds to further its growth in existing markets, which comprise over 160 cities in over more than 30 countries, as well as improve upon its technology and expand its services towards more geographical location and towards newer audiences. He noted that along with this recent addition of cash, the expertise of the new investors shall also provide an injection to achieve these ambitions.
Co-CEO of Easy Taxi, Tallis Gomes, further added that this funding round will allow Easy Taxi towards its objective of disrupting the traditional taxi industry, bringing convenience and safety to the million of riders around the globe that use this service. At the moment, Easy Taxi has totaled up to 150,000 drivers to its network, bringing the total to nearly 185,000.
This new comes along only two months after their rival GrabTaxi manage to secure over US$15 million in funding. It’s quite clear that the competition among taxi applications have entered into a who new stage. with companies from other industries enteryin the frenzy with EasyTaxi partnership with Wechat and GrabTaxi’s tie in with Deezer. Whatever manner this manage to play out, its quite apparent that consumers shall ultimately be the ones to benefits, receiving more value as the taxi companies continue to form battles.