IDB Invest and Blue like an Orange Sustainable Capital Announce $70 Million in Financing for Cabify to Boost Safe Urban Mobility and Social Development in Latin America and the Caribbean

Luxembourg (ots/PRNewswire) -

- Deal supports innovative digital business models that are having an
impact on the urban transport sector
- Financing will allow Cabify to strengthen its presence in countries
where it operates across the region promoting social and
environmental benefits, gender equality, and financial inclusion of
drivers
- Funding seeks to support several of the United Nations Sustainable
Development Goals

IDB Invest and Blue like an Orange Sustainable Capital announced
this week their structured financing to Cabify, a ride hailing
company that provides mobility solutions to its users, with the
closing of a $70 million loan to support an innovative digital
business model that is transforming the urban transport sector. The
financing will allow Cabify to reinforce its 'smart cities agenda',
reducing mobility costs and improving the lives of citizens.

https://bluelikeanorangecapital.com/press-releases/

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Cabify is an important actor to assist economic groups who might
otherwise have difficulty finding jobs, and bringing them into the
Latin American formal economy. Its digital model allows the
traceability of operations and transactions by reducing friction
through technology and generating a business environment that is
subject to taxes and strict compliance with regulatory and legal
frameworks.

Cabify, IDB Invest and Blue like an Orange believe that this
transaction can have significant positive social impact, in addition
to the employment generation benefits described above. For instance,
indicators will be traced related to road safety and CO2 emissions,
and a specific effort on female drivers and providing women with safe
access to transportation have been adopted. Safety is a major issue
in Latin America, with a special impact on women, who suffer
harassment and other forms of intimidation when using various forms
of transport. Cabify provides a safe complement to other
transportation options especially relevant for women.

In addition to increasing access to affordable, reliable and safe
transport to people in Latin American cities, the company aims to
reduce carbon emissions through the reduction of the average age of
the fleet of vehicles the company operates with; increase of the
number of women among Cabify's drivers; and improve the employment
conditions of drivers including help in obtaining social benefits.

Specifically, the expected development outcome of this transaction
supports five Sustainable Development Goals: SDG 3, Ensure healthy
lives and promote well-being for all at all ages; SDG 5, Gender
Equality; SDG 9, Industry, innovation and infrastructure; SDG 8,
Decent work and economic growth; and SDG 11, Sustainable cities and
communities.

Cabify has incorporated the SDGs and 2030 Agenda into its business
objectives, and adheres to the United Nations Global Compact.

The investment, carried out by Blue like an Orange Sustainable
Capital together with IDB Invest, is part of a framework agreement of
co-financing between both institutions to catalyze private debt
capital in companies in Latin America and the Caribbean and marks
their second co-financing transaction announced in as many weeks.

More info about IDB Invest, Blue like an Orange Sustainable
Capital and Cabify on our website.

https://bluelikeanorangecapital.com/press-releases/

ots Originaltext: Blue like an Orange Sustainable Capital
Im Internet recherchierbar: http://www.presseportal.de

Contact:
investor.relations@blueorangecapital.com
Phone: +352-27-176-620

Ana Lucía Escudero
IDB Invest E-mail: analuciae@iadb.org

Original-Content von: Blue like an Orange Sustainable Capital, übermittelt durch news aktuell