The Openfund is eager to announce a new funding round for Taxibeat. The round, in the form of a €0.5 million convertible note, is contributed by a syndicate of 7 both existing and new investors to the company.

15 months after the initial Openfund seed round and 8 months after the previous angel round of €0.25 million, the company now features a fleet of 1500 in Athens, Greece and a 20% monthly increase in rides, along with a fleet of 400 in Rio de Janeiro, Brazil one month after launch. September will find Taxibeat launching in Sao Paolo, Brazil, Paris, France, Oslo, Norway and Bucharest, Romania.

Together with investments in local subsidiaries, the company has now raised more than €1 million on its quest to redefine private transports. The new round will help the company extend its edge both in its world class technology and on the road to new geographies.

In contrast to the current economic context, the Openfund considers this round a further testament to the team’s capacity to execute, as well as to the growing maturity of the technology ecosystem in the region.

Last Modified: May 27, 2013