Leading mobile taxi app Easy Taxi has secured US$40 million 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 new round of investment, Easy Taxi said, is testimony to the investor confidence in the world’s farthest-reaching taxi app as well as its successful expansion during the past year and leadership position across multiple markets.
“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,” Dennis Wang, co-chief executive officer (CEO) at Easy Taxi, said.
“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,” said co-CEO Tallis Gomes.