Cabify is no stranger. The Spanish company is a benchmark in the urban mobility sector, operating in 7 countries – Spain, Chile, Argentina, Peru, Colombia, Mexico and Uruguay – and has a presence in more than 40 cities, standing up to a giant like Uber.
Moreover, the company is considered… One of the first four Spanish unicornsAs we said in this report. In fact, it was The first Spanish rhino To enter the ranking prepared annually by the consulting company CB Insights for the year 2018.
However, Cabify still has a long way to go and is taking the necessary steps to do so. We recently learned that the company Financing has closed Project debts €15 million from BBVA Sparkthe bank’s tool to help develop high-growth companies.
Cabify focuses on sustainability
This injection of resources will serve Accelerate the implementation of its strategic plan, which focuses on promoting sustainable and accessible urban mobility, Thus promoting the objectives set in the Sustainable Business Strategy 2022-2025.
The Spanish company invests in Progressive carbon removal and electricity, With the The goal is to reach 100% zero-emission flights on its platform in 2025 in Spain and in 2030 in Latin America.
Cabify has already made some achievements in this direction. For example, I recently announced… Integration of 200 new electric cars in Madrid, Which will be worked on by Vector, a subsidiary of the group. from here, One in four Vector vehicles are already Zero labeled, while the rest are ECO labeled. Additionally, Cabify reported that it was the first company in its sector to reduce overall travel emissions through the platform, despite increased trip volume.
Meanwhile, the company continues with Develop your proposal Technological mobility and service so that accessible and sustainable mobility reaches more people and territories Within the countries in which it operates. Likewise, it maintains Commitment to sustainable growth and profitabilitywhile maintaining a clear global business growth of more than 30%.
“We are proud that BBVA is showing us its confidence in supporting these properties. We have a consistent goal to make cities better places to live. We are progressing on this path thanks to the efforts of millions of driver-partners, passengers and thousands of employees who work day after day to promote easier and more sustainable mobility options. We are changing the way people move and connect with cities, and beyond that, we are showing that sustainability can be profitable. “We are thrilled that the BBVA team is joining Cabify as a co-pilot on this journey,” he says. Juan BarbolaCFO of Cabify.
Likewise, Roberto El Baladego, President of BBVA Spark, highlights this “Cabify shows that it is possible to promote a sustainable urban mobility model In the major cities of Spain and Latin America in a way that is accessible to most citizens.
Thus, he emphasizes that “Cabify’s zero-emission strategy through the gradual electrification of its fleet is class-leading and fully aligned with BBVA’s vision.”
BBVA participates in the startup ecosystem
BBVA Spark has already gained the trust of more than 800 customers and has committed around €250 million in bank financing.
“start, moreUnicorn… We are the bank that understands your needs and speaks your language Web. Through this instrument, the bank Offers specific products, e.g Project debts s Growth loansAs well as lines of credit.
Another example of its support for the entrepreneurial ecosystem is the recent funding of Bit2Me, The main digital asset company in the Spanish-speaking market. Thus, BBVA Spark has joined the funding round that Bit2Me has just closed, which it will have access to 14 million euros through A Project debts.
This agreement joins the investment Bit2Me received in June from Investcorp, Telefónica Ventures, Stratminds and Emurgo. With this new round, the platform takes a step forward in cryptocurrency adoption.
“This is financing by a banking entity in a company encryption “This is proof that the adoption that will arrive in 2024 will be at all levels,” says Lev Ferreira, CEO and co-founder of the company.
BBVA is not the only financial entity showing interest in entrepreneurship And startups. We can also talk about Revolut Business, Qonto or JuniAs we mentioned in this article.
