May 30, 2018 / 4:19 AM / a year ago

Daimler leads $175 mln investment in Uber's EMEA rival Taxify

LONDON, May 30 (Reuters) - Estonia's Taxify is set to step up its fight against global rival Uber across Europe and Africa after raising $175 million in funding from a group led by German automaker Daimler.

Daimler, already a majority owner or significant investor in a string of online taxi services across Europe and the Middle East, is adding Taxify to its investment portfolio, the two companies said in a statement on Wednesday.

Taxify, which has grabbed business from Uber in Central and Eastern Europe and major African cities, said it will use the investment to develop its technology and further penetrate its existing regional markets. It counts 10 million passengers and 500,000 drivers in the more than 25 countries where it operates. (Reporting by Eric Auchard in London; Editing by Gopakumar Warrier)

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