Easy Taxi Raises $15 Million
Easy Taxi is a Brazilian based online taxi hailing service that spun out of the Rocket Internet startup accelerator. The company has raised $15 million as part of a goal to expand globally. This round of funding was led by Latin America Internet Holding. The company has plans to expand more into Hong Kong, Bangkok, Manila, Fortaleza, and Brazil.
Easy Taxi works in a manner that is similar to other online taxi hailing services like Uber and Hailo. Easy Taxi is able to determine where taxis are using the mobile application. Easy Taxi can show who their driver is and follow them on a map.
Based in São Paulo, Easy Taxi started in 2011. They were one of the first online taxi companies to take on the Latin America market. Currently Easy Taxi has around 30,000 taxi drivers in their network and is available in 30 cities across nine countries in Latin America and Asia.
Hailo, one of Easy Taxi’s largest competitors, is based in London and is going to be expanding into New York City, Asia, and the Middle East. Hailo is backed with over $50 million in funding. Fortunately for Easy Taxi, competition that tries to enter the Latin America market will likely struggle to compete. Since Brazil is hosting the 2014 World Cup, Easy Taxi may see some solid growth next year. Millions of visitors generally visit the location of the World Cup every year.