Aug 1, 2017

Didi Chuxing continues its investment spree with Taxify

iphonedigital / Flickr CC

Didi Chuxing, the Chinese ride-hailing giant, has invested in Estonian startup Taxify, the companies revealed on Tuesday. Taxify, a four-year-old company, has more than 2.5 million passengers in 18 countries across Europe and Africa, including Hungary, Romania, the Baltic States, South Africa, Nigeria and Kenya.

The deal: Didi has invested an undisclosed amount into Taxify, and the company says it will "collaborate with Taxify to support the latter's further growth and innovation across its diversified markets." The Estonian startup previously raised about €2 million (about $2.4 million) in venture capital.

Didi's world domination: The Chinese giant, which has raised more than $12 billion in funding to date, has been investing in ride-hailing companies around the world as part of its ambitions to "play a global game," as president Jean Liu said last year. So far, these investments include Southeast Asia's Grab, India's Ola, Latin America's 99, and Lyft in the U.S.

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