Estonia, EU – Baltic States, Good for Business, Technology, Transport

"We are pleased to announce that beginning today we offer residents to Lisbon a more favorable and higher quality alternative to the existing monopolistic market leader," Taxify founder and chief executive Markus Villig said in a press release.

Villig described Portugal as a rapidly developing market open to innovation.

Taxify launched in Lisabon with more than 600 drivers, with hundreds of more drivers waiting for the possibility to join the platform. The Taxify app has been downloaded by 2,500 locals to date.

Taxify charges a commission of 15 percent, which is 10 percent lower than that of its competitors active in Portugal.

Taxify is planning to next make its service available in Melbourne, Australia, and Toronto, Canada.

Founded in 2013, Taxify is an Estonian technology company that develops a global transport platform. It is active in 28 cities and 21 different countries, mediating tens of millions of rides per year. The company employs a workforce of 400 people across the world. In August 2017 Taxify started cooperation with the world's biggest ridesharing platform Didi Chuxing, which made an investment in Taxify and supports the company's further growth in Africa and Europe.