Mutua Madrilena acquires stake in Cabify
Jul 26, 2022
Tech.eu Insights creates insight and guides strategies with its comprehensive content and reports. Browse popular Insights content. Mutua Madrilena acquires stake in Cabify
The partnership is a further step in the unicorn’s strategy to continue advancing in the field of urban mobility through digital platforms market
Spanish insurance company Mutua Madrilena has inked a strategic deal with Cabify and acquired 1.26% stake in the ride-hailing and multi-mobility unicorn company. Mutua Madrileña will also start offering the Cabify service to its members through the Mutua Madrileña app. While the price paid for the deal remains undisclosed, the partnership is a further step in the unicorn’s strategy to continue advancing in the field of urban mobility through the digital platforms market. Cabify recently presented its sustainable business strategy, a guide that will mark the company's projects with specific goals, such as 100% of journeys being in electric vehicles by 2025 in Spain and 2030 in Latin America, or having a positive impact on 750,000 citizens through social initiatives in local communities.