myTaxi Hails New Funding

By David Knight |

Intelligent Apps, creator of the popular myTaxi app, has secured a new investment from ERP-Startfonds, part of the KfW bank. The Hamburg-based firm’s current investors T-Ventures – the venture capital arm of communications giant Deutsche Telekom – and e42 are also joining in the latest round of funding.

Since its launch, myTaxi has already notched up more than 150,000 App Store downloads with five-star ratings, and placed first in Apple’s “Productivity” category last year.

Although myTaxi told Silicon Allee they couldn’t reveal exactly how much this latest investment was worth, it’s believed to be in the region of €5 million. The other numbers are pretty impressive as well: The amount of trips taken through the app has increased ten-fold since T-ventures first invested in the company last fall, while over the same period, the number of registered taxi drivers has risen to around 4,000.

Currently, myTaxi – the only app that connects taxi drivers directly with passengers – operates in Berlin, Hamburg, Cologne, Bonn, Munich, Stuttgart and Frankfurt. Starting next month, Leipzig, Düsseldorf, Hannover and Dortmund will added to the list cities supported by myTaxi, and the startup – which currently has a 37-strong staff – is planning to go international later this year by launching a service in Austria, Switzerland and the Netherlands. If you speak German, you can read more here.