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Mutua Madrileña takes a 1.26% stake in the capital of Cabify

MADRID, 26 Jul.

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Mutua Madrileña takes a 1.26% stake in the capital of Cabify


The insurer Mutua Madrileña has taken a 1.26% stake in the capital of the mobility platform Cabify, an operation whose amount has not been disclosed and which includes the incorporation of the Cabify service in the Mutua app.

The entry into the capital of Cabify occurs after the acquisition of 100% of the mobility platforms ElParking and Imbric, and is part of Mutua's strategic plan until 2023, which includes as main axes continuing to accelerate the digital transformation of the group, consolidate international expansion, the growth of its financial advisory activity and the entry into new businesses related to mobility.

In addition, the insurer has recalled in a statement its "aspiration to respond to the new mobility needs that are emerging, given the economic and social changes that are taking place and that are transforming our lifestyles."

For the Spanish unicorn, this agreement is a "new example of the strength of the relationship between the two companies, which share common objectives in terms of mobility and sustainability."

The agreement will also allow the insurer to offer its clients a better user experience thanks to the use of this platform from its app.

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