Technology website TechCrunch reports Madrid-based ride-sharing firm Cabify received USD 120 million in a series C funding round lead by Japanese ecommerce firm Rakuten. The deal values Cabify at USD 320 million, according to TechCrunch.

Cabify operates in the human cloud space with other ride-sharing firms that match drivers with passengers, including Uber and Lyft. However, Red Herring reports that Cabify only operates in Spain, Chile, Peru, Mexico and Colombia.

Rakuten is also an investor in Lyft.