COBALT advised Rubylight on investment into Taxify

Taxify mobile application that has secured a solid position in smart phones of numerous Estonians and experienced impressive growth in terms of number of orders and users within the past year announced a new round of investments today. Adcash, investment fund Rubylight, TMT Investments and angel investors Rain Rannu and Indrek Kasela invested 1.4 million euros in total.

COBALT advised technology investment fund Rubylight on the transaction.

Taxify service is currently available for ordering a taxi in Estonia, Latvia, Lithuania and Finland. The new round of investments will facilitate expansion into several new European markets.

Rubylight was advised by partner Kristel Raidla-Talur, senior associate Ave Piik and associate Greete-Kristiine Kuru.

Media coverage of the deal (in Estonian) can be found from here and here.