Taxify closes 175m investment targets expansion in nigeria

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Taxify Closes $175M Investment, Targets Expansion in Nigeria

Taxify, a popular ride-hailing company, has announced the closure of a $175 million investment round, which will be used to expand its operations in Nigeria and other African countries.

The investment was led by Daimler, the parent company of Mercedes-Benz, and also included participation from other investors such as Korelya Capital, GGV Capital, and RTP Global.

With this investment, Taxify aims to increase its presence in Nigeria, where it has already established a strong foothold. The company plans to expand its services to more cities and towns across the country, as well as improve its technology and customer experience.

Taxify's CEO, Markus Villig, stated that the investment will enable the company to accelerate its growth in Nigeria and other African markets, where there is a growing demand for ride-hailing services.

The company has already made significant inroads in Nigeria, with over 10,000 drivers operating on its platform in the country. Taxify has also expanded its services to other African countries, including Kenya, Ghana, and Uganda.

The investment is a significant boost for Taxify, which has been growing rapidly in recent years. The company has disrupted the traditional taxi industry in many countries, offering a more convenient and affordable way for people to get around.

Overall, the investment is expected to have a positive impact on the Nigerian economy, creating jobs and stimulating economic growth.