Taxify completed 2 million trips in 2 years on Hungarian market

Tinuku - The Taxify Estonian transportation network company has made about 2 million journeys since entering Hungary two years ago and app was downloaded by 250,000 people. The company started to operate with only 20 cars in Budapest two years ago and is now working with more than 600 drivers.

"Taxify aims at increasing this number to 700-800 by the end of the current year," said the company.

Tinuku Taxify completed 2 million trips in 2 years on Hungarian market

Taxify Hungary ltd. achieved revenues of 161.7 million Hungarian forints (about US$570,000) in 2017, up from 32.6 million forints in 2016. The company's after-tax profits stood at 64.8 million forints after the loss of 6.2 million forints in the previous year.

Taxify is a global travel sharing service provider, founded by Estonian Markus Villig in 2013. The mobile application allows people to get a taxi or private driver from their smartphone. As of May 2018, Taxify operates in 25 countries and 40 cities in Europe, Africa, West Asia, Central America and Australia.

The company has 10 million customers globally and more than 500,000 drivers use the platform to offer rides. U.S.-based ride-sharing service rival company Uber left the Hungarian market in July 2016 after months of demonstrations by taxi drivers.

This caused the Hungarian government to make new laws regulating drivers recruitment. If the regulatory environment changed in the future, Uber said it would resume its service in Hungary.