Cabify wants to own the way people move in cities. The Spanish-born ride-hailing company is introducing a pilot multi-modal subscription model to 40,000 users in Madrid this week, with plans to expand to its other markets throughout Spain and Latin America.
“Cabifi Go!” It seems that the subscription service has something for everyone. All of Cabify’s different mobility offerings – ride-hailing services, Electric Micromobility Assistant MOVOBive, bike subscription service and courier service – are already available under one app, but now customers will be able to choose one of the three plans that reflect the mobility needs of different users. Selected users can now “Go!” button on the top-right corner of the screen. It’s a step towards making the name Cabbies ubiquitous among commuters planning a trip, whether they’re riding an old-fashioned taxi to the airport or a scooter to work.
“Subscription plan ‘Cabify Go!’ Born to make our app their recurring platform with the diverse range of services available.” Leonor Barueco, Vice President of Development for Cabify, told ClearTips. “This approach is strongly aligned with our goal of becoming the leading multi-mobility platform. At this stage there is an opportunity to come closer to the diverse and changing needs of our users. We aim to provide our users with convenient, diverse and sustainable ways to get around the city at an affordable monthly fee.”
The main subscription offering, “Cabify Go! The “Todo en uno” or “Everything in One” plan costs €6.95 per month and gives users a 10% discount on all their Cabify trips as well as 30% off Cabify Envíos, its courier service. Subscribers also gets two free cancellations per month and is waived of additional charges arising out of high demand.
Cabify is also offering the “A dos ruedas” or “On Two Wheels” plan, which costs €19.95 per month and includes 10 free MOVO rides up to €6 at no extra cost. The mobility company hopes that the subscription will help bring in new users. Currently, the rate of new users in Cabify’s moped segment is about 1.5 times the rate of ride-hailing services, according to Barrueco.
“Given the convergence of the platform space where customers can demand a variety of rapidly growing multi-mobility services, some users may be new to alternatives, while some are new to the entire multi-mobility ecosystem, Barueco said.
Finally, its “Pedelia” or “Pedal” plan includes a long-term rental service for electric or mechanical bikes with competitive monthly prices of €49.95 and €28.95 respectively. Servicing and maintenance is included, as well as a 10% discount on ride-hailing trips.
Bive, which Cabify introduced about a year ago, has already expanded from Madrid to Valencia, Sevilla and Barcelona. By integrating the service into Cabbies’ subscription offerings, the company hopes to promote the bev service through another outlet, an idea borne out of internal insights. Barrueca says that 50% of Bive’s user base are new users of the Cabify platform.
According to Barrueco, there are no sign-up or cancellation fees for any service, and users can cancel at any time. But when it comes to mobility subscription it is exactly the same, Which appears to be increasing as the subscription business model grows to respond to increased consumption habits.
In the European market, “with a base of 353 million homes and more than 2,100 connected devices (22% of the worldwide total), 560 million subscriptions will be purchased this year (25% of the total),” according to monetization tech developer Telecomming’s 2021 Subscronomics report. ) worldwide total).” It is expected to contribute to the global subscription industry of approximately $228 billion, which is 31% higher than in 2020 with an average YOY growth of 23% from now to 2025.
Other companies that jumped early on the monthly rental train include Unagi with their e-scooters, SwapFit with bikes and e-bikes, and Onto with electric vehicles.
Barrueco says one of Cabify’s goals in growing its own business is to contribute to making cities more people-centric and eco-friendly by making shared modes of transportation more accessible.
“One of the company’s top priorities is to strengthen and consolidate our multimobility service proposition that provides our users with a diverse range of sustainable options and aims to transform the dominance of the personal car,” said Barrueco.
While the global share of EVs in Cabify’s entire fleet is only 1%, with hybrid vehicles accounting for 3%, Cabify is targeting 2025 for full electrification for the collaborating fleet in Spain and 2030 in Latin America. The company is collaborating with a number of stakeholders, including IDB Invest, the Ministry of Energy in Chile, and car brands to test suitable EV models.
“This general journey towards general EV adoption is necessary to address several urban and region-wide challenges, such as the lack of EV models that are legal in terms of autonomy, access to ride-hailing services, battery life span, credit conducive to certainty. or the characteristics and availability of the charging points,” Barueco said.