WeTaxi has closed a €2 million investment round led by CDP Venture Capital and Azimut Libera Impresa to enhance its operations in the Italian taxi app market.

Target Company Information

WeTaxi has successfully closed an investment round exceeding €2 million. This funding consists of €1 million from the Startup Relaunch Fund, managed by CDP Venture Capital SGR, and €750,000 contributed by Azimut Libera Impresa. The remaining amount was provided by historical investors from Piedmont, including the Investors Club and the Merlo family based in Cuneo.

In 2022, WeTaxi reported revenues of €11 million, establishing itself as a key player in the Italian taxi app market. The platform supports over 6,000 taxi drivers in Italy, which represents a substantial share of the total 25,000 taxi drivers in the country. Additionally, WeTaxi has attracted 400,000 registered users and facilitated 1.7 million rides.

Industry Overview in Italy

The taxi industry in Italy is undergoing significant transformation, largely influenced by the growth of digital platforms and smartphone applications that streamline the process of booking rides. In r