Spanish ride-hailing service Cabify is set to begin offering grocery deliveries for customers in Latin America in 2022.
As Reuters reported Tuesday, the launch comes just a month after Cabify began grocery delivers in its home country.
“We will launch our Cabify Super service next year in Latin America,” the company’s Lucia Chavarri told reporters at an event marking the firm’s 10th anniversary.
The service will allow customers to place orders through participating local supermarkets and will likely arrive in Latin America in the first half of next year. Cabify operates in Mexico, Peru, Argentina, Chile, Colombia, Ecuador and Uruguay, but it’s not clear which country will see the first grocery deliveries.
As the news report notes, a number of new startups are looking to carve out a place in this market, such as the Germany company Gorillas, which landed a $235 million investment from Delivery Hero in October.
See: German Delivery Hero Buys Minority Stake In Gorillas Delivery Startup
Launched in 2020, the company provides last-mile on-demand delivery of groceries items in nine European countries. In just six months, the firm opened more than 140 warehouses and made 4.5 million deliveries.
Meanwhile, London-based Gett, set to go public on the Nasqad in 2022 through a $1 billion special purpose acquisition company merger, is also about to start operations in Spain.
Read more: Gett to Go Public Through $1.1B SPAC Merger
According to Reuters, Cabify says it should generate revenue in the neighborhood of $516 million for the year. Chief Financial Officer Antonio Espana says sales should be $167 million in the fourth quarter, a 43 percent increase from the same quarter of 2019.
“Going public is just one option at our disposal to finance our growth plans, and we’ve no concrete date so far,” Espana said. “We want to keep financing our conquest of mobility and working on our recovery using our own resources for now.”
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