Tech unicorn Taxify is chipping away at Uber's dominance in the European ride-hailing market – and its CEO predicts massive growth ahead.
The Estonian ride-hailing company valued at $1 billion has 15 million users and 500,000 drivers worldwide, split evenly between Europe and Africa. In an interview with CNBC at the Web Summit tech conference in Lisbon, Portugal earlier this week, Taxify CEO Markus Villig said he sees big potential in the European ride-sharing and scooter markets.
"Overall if you look at tech in Europe we're still so much behind the U.S. and in that sense it's definitely a massive achievement for us as a team that we get this far," Villig said. "But when you look at the wider transportation space there's still room to grow another 100 times from where we are today."
Twenty-four-year-old Villig founded Taxify five years ago in Tallinn, Estonia. The company said it is now the market leader in 11 of the 25 countries where it operates. It has raised capital from investors including German automaker Daimler and Chinese ride-hailing firm Didi Chuxing.