Cabify - Maxi Mobility

in implementation

This project is one of IDB Invest’s initial incursions into supporting a cutting-edge, digitally-enabled business model which is disrupting the urban transport sector. The proposed financing consists of (i) an A Loan of up to US$40 million and (ii) a B-Loan of approximately US$30 million to support Maxi Mobility’s growth plan in Latin America and the Caribbean (LAC). The financing will be used for new customer and driver acquisition, platform improvements and partly to refinance existing venture debt ($20 million) as well as for developing new initiatives in adjacent business lines and increase its investment in Glovo Latin America (courier/logistics services).Maxi Mobility is a ride hailing company with headquarters in Spain and with operations in LAC (Mexico, Chile, Peru, Brazil, Panama, Ecuador, Argentina, Dominican Republic, and Uruguay), Spain and Portugal. Maxi Mobility provides vehicles for hire via its smartphone mobile apps Cabify and EasyTaxi which operate as the contact point between passengers and private drivers.