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Ride-hailing app Cabify to invest $300 mln through 2024 to strengthen LatAm presence

Reuters
Updated

MEXICO CITY, Nov 30 (Reuters) - Spanish ride-hailing application Cabify will invest more than $300 million through 2024 to strengthen its presence in Latin America, the company said in a statement Wednesday.

The company, which operates in seven Latin American countries, will use the funds to strengthen market penetration in non-capital cities, facilitate transportation to spots such as airports and continue to "de-carbonize" its fleet, Cabify said. (Reporting by Kylie Madry; Editing by Brendan O'Boyle)