Cabify does not comply and maintains its plan to go public in Spain

Cabify does not comply and maintains its plan to go public in Spain

The VTC vehicle platform intends to be quoted in a period of between 12 and 18 months, despite having to leave Barcelona due to the new regulation

   The Cabify platform has announced that it plans to go public in Spain in 18 months, just as it said at the end of last summer, despite its latest conflicts in Madrid and Barcelona . Since the company did not want to make statements because "there is no news about it." It was in Barcelona where the company decided, together with Uber, to stop operating earlier this month due to the entry into force of the new regulations that require a VTC to be contracted at least 15 minutes in advance.

But the company founded in 2011 is not satisfied and remains firm in the plan to go public , after taking the first steps by contacting the main investment banks, according to 'Cinco Días'. And that is still unclear regulations that can be made by the various regional governments and municipalities on the sector after the Ministry of Development enabled them to do so through a royal decree last September.

His plans for the future include integrating other platforms, including the taxi. The company present in 12 countries in Latin America, Spain and Portugal announced in full strike of the taxi drivers in Madrid their intention to integrate them into their mobility platform in our country through an alliance with Easy Taxi , as already happens in some South American countries . "They are not our competition, it is the private car," said its founder, Juan de Antonio, when this plan was known.

As a parallel business to the urban transport service with VTC, it has the motorsharing firm Movo and obtained a loan of 62 million euros from the Inter-American Development Bank (IDB) to boost its mobility business.

In Spain, Cabify provides VTC services in Madrid, Malaga, Seville, Valencia, La Coruña, Alicante and, until two weeks ago, Barcelona.