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Another ride-hailing app to enter the fray in Brazil

Bnamericas Published: Tuesday, April 19, 2016

Spanish ride-hailing app Cabify is firing up its engine in Brazil.

The startup is about to launch in São Paulo, the country's largest city, and said it aims to become the No. 1 player. But it will face a bumpy ride in what is a highly competitive market.

São Paulo will be Cabify's first stop in Brazil. The service will be available to users with iOS and Android phones from May 1, the company said.

More comparable to Uber than to taxi apps, Cabify connects drivers and passengers by offering different vehicle types, including light, executive and group.

In a statement, Cabify's LatAm CEO, Ricardo Weder, said Brazil has favorable conditions "to rapidly become a strategic and leading market" for Cabify's operations as it has "room for improvement in urban mobility."

In Latin America, Cabify is also present in cities in Mexico, Peru and Chile.

Cabify said it is focusing on expanding to new Latin American markets after receiving a US$12mn round of funding in October.

Regarding legal aspects, Brazil operations manager Daniel Velazco-Bedoya said Cabify is working with local authorities to understand the best way to operate in the country.

Most Brazilian cities are still discussing ways of regulating economy-sharing virtual transportation services.

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