That a request Cappy It is already part of the culture of Spain that goes out, a culture of entertainment at any time of the day or night, where you can have more fun and have a drink without worrying about blood alcohol controls. Behind this request for transportation through a program There is a Spanish company operating under the name Cabify.
The company’s sales volume amounted to $899.1 million last year. 831 million eurosWhich represents a growth of 30.7%. Its total profits amounted to 111.1 million, up 40.9%, as reported on Wednesday, reflecting losses of 60 million euros recorded in 2022.
“2023 was the best year in the company’s history in terms of business,” they say of the company founded by the Spanish businessman in 2011. Juan de Antoniowhich has established itself as one of the main mobility platforms in the Latin American space. Since its inception in Madrid, the company has expanded its operations to more than 40 cities in nine countries in Latin America and Europe and is a benchmark in the private chauffeured transportation sector.
It has expanded its operations to more than 40 cities in nine countries in Latin America and Europe.
The idea for Cabify came from the personal experience of Juan de Antonio, who, during his business trips to Silicon Valley, needed a more efficient and safe transportation service in his hometown. Inspired by the collaborative economy in that part of the world and the success of similar companies in the United States, de Antonio decided to create a platform that would offer an alternative to traditional transportation in a city like Madrid that was constantly growing and had a stagnant taxi model.
Users and Drivers
Cabify has not only focused on providing a premium service, but has also sought to build a trusting relationship with its users through the thousands of drivers that make up its workforce. The platform selects drivers and vehicles and prides itself on high quality standards in its rides through modified vehicles, water bottles, or in-app payment. This strategy has been key to its rapid growth and has been well received in the markets it operates in.
One of Cabify’s main strengths is its app for requesting transportation in almost any city in Spain. The company has developed an intuitive app that allows users to request a ride with just a few taps on their smartphone. In addition, the platform offers a variety of service categories, from budget vehicles to luxury options, thus adapting to the different needs and budgets of users.
Cabify has also integrated AI and big data tools to improve its operations and enhance user experience. These technologies allow for predicting demand, reducing wait times, and providing more efficient routes.
Although this contradicts some users’ complaints about the behavior of drivers in some cases where they cancel the pickup process minutes after accepting it if they see that the route is short or will not provide them with economic benefit. Given this, customers can file a complaint and avoid expenses, but the situation of being left unilaterally without transportation is something that needs improvement.
Electric Fleet
Sustainability is another key pillar of Cabify’s philosophy. It has been a pioneer in promoting electric mobility in the cities it operates in and has formed alliances with automakers and local governments to facilitate the adoption of zero-emission vehicles.
It is the company that will receive the most money from grants from the third call for assistance under the incentive programme for electrification of light vehicle fleets, also known as Moves Fleets, run by the Institute for Diversification and Energy Efficiency (Idae), according to the company.
In this third call, which is part of the Recovery, Transformation and Resilience Plan and focuses on electrification projects of light vehicle fleets with electric vehicles and fuel cells, Cabify Spain was the company that received the largest amount in aid, with €1.5 million, and obtained a score of 78.
Cabify is the one receiving the most assistance of all the projects presented in Spain since October 2023, “which recognizes the commitment of the Spanish platform towards Decarbonizing the fleet». Moreover, in terms of the result obtained, this ranks third out of 26 projects selected by the Ministry of Ecological Transition and Demographic Challenge.
Cabify Spain was the company that received the largest amount of aid, amounting to 1.5 million euros.
The regulation of private transport with a driver has been a controversial issue in many countries, leading to tensions with traditional taxi services and local authorities. The arrival of this type of transport has forced many autonomous communities to change regulations. Madrid and Barcelona are the most hostile cases. While the capital has chosen to liberalize the sector and allow taxis, Cabify, Uber and other VTC companies to coexist; Barcelona has put in place many restrictions that have complicated the implementation of the service.
Cabify vs Taxi
The arrival of Cabify has forced the taxi industry to modernize and adapt to new technologies. Now you can order a taxi from the Cabify platform using its apps and see the price of the trip or even pay by card.
Cabify continues to expand its services and explore new opportunities in the mobility space. Most recently, it diversified its offerings with Cabify Envoys, a courier and parcel service that leverages its network of drivers to make fast and secure deliveries.
In addition, the company is incorporating new methods to Sustainable transportationsuch as electric bikes and scooters that can be booked through their own app.