Funding round
Cabify Series C
Cabify, which works in mobility solutions services in Madrid, raised $120M in a Series C round announced on 20 Apr 2016, led by Rakuten, at a $320M post-money valuation. 1 firm took part, 1 of them already investors. It is Cabify's third venture round on record; the one before was a Series B in Oct 2015.
$120M
Amount raised
$320M
Post-money valuation
$200M pre-money
1
Investors
1 lead
2.8x
Step-up from the Series B
$114M in Oct 2015
38%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Cabify at $320M after the new money, 2.8 times the $114M of its Series B (Oct 2015). The $120M bought investors about 38% of the company. It came 6 months after Cabify's Series B. It is 24% of the $506M Cabify has raised in the venture rounds on record. Cabify raised again 20 months later: a Series D round of $100M in Dec 2017. Its next priced round, a Series E in Jan 2018, valued it at $1.40B.
Cabify's funding rounds
Cabify has 6 venture rounds on record and 2 other deals. This one is highlighted.
- Seed 30 Sep 2014 $4.0M
- Series B 12 Oct 2015, led by Rakuten $12M$114M post-money
- Series C this round 20 Apr 2016, led by Rakuten $120M$320M post-money
- Series D 14 Dec 2017, led by Rakuten, Seaya and AngelList $100M
- Series E 23 Jan 2018 $160M$1.40B post-money
- Debt not a venture round 11 May 2022 $42M
- Growth 28 Mar 2023, led by Orilla Asset Management $110M
- Debt not a venture round 11 Jan 2024, led by BBVA Spark $16M
Investors
Who put money in
Rakuten led the round. Rakuten had backed Cabify before.
Lead investor
- Rakuten existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: Series C rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 21 Apr 2016 | $50M | $600M | Spark Capital |
| Loans & Financing | 6 Apr 2016 | $37M | not disclosed | HarbourVest |
| Tech Companies | 21 Apr 2016 | $36M | not disclosed | REV Venture Partners and Caffeinated |
| Forter Tech Companies | 21 Apr 2016 | $32M | not disclosed | Scale Venture Partners |
| Tech Companies | 21 Apr 2016 | $30M | not disclosed | Institutional Venture Partners |
| Property Management | 18 Apr 2016 | $30M | not disclosed | Tiger Global |
| Software Development Services | 5 Apr 2016 | $30M | not disclosed | Goldman Sachs |
| Cryptocurrency | 28 Apr 2016 | $27M | not disclosed | SBI Investment |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Cabify raise in its Series C round?
Cabify raised $120M in its Series C round, announced in Apr 2016.
Who led Cabify's Series C round?
Rakuten led it.
What was Cabify's valuation at the Series C round?
$320M post-money ($200M pre-money).
Did Cabify raise again after this round?
Yes: a Series D round in Dec 2017 of $100M.