taxiONE of the main rivals to revolutionary ride-sharing app Uber has received €106m in its latest round of funding.

Cabify, which operates in Malaga, across Spain and in Latin America, is now valued at €283m.

The app says it operates a business-focused service, with clients including Google, Visa and Allianz, while all their drivers are required to wear suits.

The news is welcome for a service that remains an underdog in a competitive market.

Rival apps BlaBlaCar and GrabTaxi are valued at €1.4bn and €1.3bn respectively.