Cabify will leave Ecuador as of March 15, the platform announced, indicating that it will stop operating in Quito and Guayaquil, two cities in Ecuador where it had a presence.

The company explained that the withdrawal was due to the lack of profitability achieved in the country. He pointed out that his business model in the Ecuadorian market did not respond at the same level of growth and profitability as in the region as a whole.

The Cabify app has seen an increase of more than 50% in Guayaquil

The company assured that in the rest of Latin America, its business continues to consolidate and shows significant sustainable growth, above the levels of 2019 or even the milestones recorded by the company to date.

“Cabify has a strong commitment to the pursuit of profitability and, as a result of an ongoing analysis process in this market, has made the difficult decision to discontinue its operations,” said the company, which has operated in the country for six years.

The company added that a total of twelve Cabify employees in Ecuador are affected by this decision, which was communicated in person and recognizes their contributions.

“Cabify will support them when they leave, giving them the resources to find a new professional project as soon as possible,” the company said in a statement.

As for the drivers, passengers and companies that use Cabify’s services in Quito and Guayaquil, the company points out that they were duly informed and Cabify thanked them for their trust.

The platform added that it will be aware of the future needs and possibilities of mobility in this market.