COBALT advised Didi Chuxing, the world’s leading ride-hailing platform, on its investment in Taxify, one of the fastest growing transport apps in Europe and Africa.
Currently Taxify has over 2.5M customers in 18 countries. The technology company was founded in Estonia in 2013 and is building the market leading platform connecting people with taxis and private drivers. Previously Taxify has attracted 2 million euros of venture capital investments.
According to DiDi Founder and CEO Cheng Wei, the investment, which is part of a broader strategic partnership, will help link up transport services in Asia with those in Europe and Africa. DiDi, which serves 400 million users across a variety of services in China, said it will help Taxify to grow its presence and to develop AI-powered transportation products in its regions.
COBALT advised Didi Chuxing in all legal aspects of the transaction, including legal due diligence, drafting the transaction documents, represented investor during negotiations and advised on other transaction related matters.
COBALT team was led by specialist counsel Ott Aava, partner Martin Simovart and senior associate Karl Kull.
Please see the official press release from here.