April 11, 2021

The Inter-American Development Bank closes a financing agreement with Cabify for 62 million

The Inter-American Development Bank closes a financing agreement with Cabify for 62 million


MadridUpdated:

The Spanish mobility company Cabify has closed a financing agreement with BID Invest (Inter-American Development Bank) for an approximate amount of 62 million euros to promote initiatives in Latin American countries in which it operates.

As indicated by Cabify, it is the first operation carried out by BID Invest with a digital business model company in urban mobility. Structured through different financial products, the agreement will allow, according to Cabify, the IDB Group to play an important role in the evolution of the urban mobility sector in Latin America and the Caribbean.

The financing will go to the improvement of urban mobility, allowing Cabify to increase the options of services offered to consumers and companies, to improve quality of service and innovation, as well as the employment conditions of drivers.

The founder of Cabify, Juan de Antonio, has pointed out in this regard that the group of drivers concentrates young, unemployed groups that had difficulty returning to the labor market, people over 45 years of age and women head of the family.

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