Easy Taxi raises USD 40M from new investors

Sao Paulo, 26th of July 2014 – Easy Taxi, a leading mobile taxi app in Latin America, Africa, Middle East and Asia, secured USD 40m in Series D funding led by the Russian Phenomen Ventures with participation of Tengelmann Ventures, the investment company of Germany’s multi-sector retailer Tengelmann Group. The confidence new investors put into the world’s farthest-reaching taxi app is a testament to Easy Taxi’s successful expansion during the past year and its leadership position across multiple markets.

Dennis Wang, co-CEO at Easy Taxi: “We are very proud to have secured this new round of funding, which will allow us to continue our growth trajectory in existing markets, advance our technology, scale our operations and improve our service towards more audiences and geographies. In particular, the expertise of our new investors aligns with our ambition to further increase our market share in Asia and consolidate our leadership in Latin America.”

“In the last year we were able to add over 150,000 drivers to our network, bringing it now to around 185,000. We complete millions of rides per month across 160+ cities in 30+ countries worldwide, and the additional funding will enable us to continue working towards our mission of making the traditional taxi industry function in a much more convenient and safe way than it ever has,” says Tallis Gomes, co-CEO.

How it works

Passengers download the Easy Taxi global app, available for iOS, Android, Windows Phone and BlackBerry devices, confirm their pickup point and order a cab with the press of a button. In seconds they will receive confirmation of the name, photo and car model/plate of their pre-screened taxi driver, and will be able to follow the vehicle’s location in real-time. Options like in-app payment, corporate accounts, favorite addresses, selection of service features, special discounts, passenger-driver messaging and ride history are available according to location. Furthermore, a new generation of the application will be released soon with substantial improvements in feature set, address recognition and usability.