Cabify, the Spain-based ride hailing service backed by e-commerce firm Rakuten, has raised $100m, according to a US regulatory filing by its owner Maxi Mobility.
The money has come from a single investor according to the filing, but Cabify has not disclosed details. The cash will make up part of a series D round the company aims to close at $500m, according to TechCrunch.
Cabify’s on-demand transport service operates in 42 cities across Spain, Portugal and Latin America, and a recent article in Brazilian daily Estadao stated it is raising new funding that will support an expansion throughout Brazil.
The regulatory filing was made four months after Brazil-based competitor 99 secured more than $100m in a round led by China-headquartered counterpart Didi Chuxing.
The new funding comes after Cabify had raised approximately $146m in venture funding, including a $12m series B round in late 2015 that was led by Rakuten and backed by venture capital firm Seaya Ventures and unnamed existing investors.
Rakuten subsequently led the company’s $120m series C round in April 2016, which was closed at a $320m post-money valuation. Earlier Cabify investors include Hit Forge, Red Swan Ventures and Resolute Partners.