BBVA lends 15 million euros to Cabify to boost its growth and sustainable mobility

MADRID, 11 Ene. (EUROPA PRESS) -

BBVA Spark, the financial institution's startup investment arm, has granted a loan of 15 million euros to Cabify so that it can accelerate the execution of its strategic plan, focused on promoting sustainable urban mobility with profitable growth.

This is the first financing operation of this amount with a Spanish credit institution, which represents support from BBVA for the strategy set by the mobility company.

In this sense, Cabify continues to advance the objectives set in its 2022-2025 sustainable business strategy, among which its commitment to sustainable growth stands out, from a social, financial and environmental point of view.

The Spanish company is investing in the progressive decarbonization and electrification of its activity, until reaching 100% zero-emission trips on its platform in 2025 in Spain and 2030 in Latin America.

Cabify recently announced the incorporation of 200 new electric cars in Madrid, which will be operated by Vecttor, a subsidiary of the group. With this, one in four Vecttor cars now has a Zero label, while the rest of the vehicles have an ECO label.

"Cabify is demonstrating that it is possible to promote a sustainable urban mobility model in the main cities of Spain and Latin America in a way that is accessible to most citizens. Cabify's zero emissions strategy through the progressive electrification of its fleet , is a pioneer in its segment and is completely aligned with BBVA's vision," highlighted the head of BBVA Spark, Roberto Albaladejo.

Currently, BBVA Spark already works with more than 800 clients and has committed around €250 million in bank financing.