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Daimler AG leads $175 million investment in Estonian-based ride sharing company Taxify (+ video interview with Martin Villig)

Daimler, along with European venture fund Korelya Capital and TransferWise co-founder Taavet Hinrikus, joined a number of existing investors, including Didi Chuxing of China, in a round that brings Taxify's (later renamed Bolt) valuation to $1 billion, the company said.

According to Taxify’s (now known as Bolt) cofounder and CEO Markus Villig, the company will use the funding for technological development and expansion on European and African markets. “Our biggest challenge is growing the best team,” Villig said. “We would like to grow our team by 300 people with focus on engineers and data scientists.”

“Daimler’s mobile services have 22 million users around the world and the services range from combined transportation to ride sharing, head of Daimler’s mobile and financial services Jörg Lamparter said. “Taxify, a fast-growing ridesharing platform with a global ambition, will be an extension to our growing network of mobility services.”

A Daimler representative will join Taxify’s board.

Taxify was founded in 2013 by two brothers, Martin and Markus Villig. Now the company is present in four continents and more than 30 cities. There are more than 100,000 cars driving for Taxify daily.

On Friday we interviewed Martin Villig at tech conference Latitude59, asking why Estonia is the perfect environment for a company with global ambitions to start achieving them from:

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