Minicabit Lands £1.4m Investment to Grow Taxi Network
- Tuesday, October 27th, 2015
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UK taxi booking and price comparison app Minicabit has completed a £1.4m funding round, led by Hambro Perks and Oakley Capital.
Minicabit say it plans to use the funding to double the number of fleets in its national cab network over the next year, to account for about a quarter of all fleets in the UK. In the longer term, it also intends to diversify the range of vehicle types that can be booked on its platform, adding the likes of minibuses and stretch limos.
The money will also be used to help development of a white-label solution for brands enabling them to service customers’ journeys. Partners who have signed up so far are mostly travel and tourism brands, including Heathrow Airport, O2 Academy Group and Blenheim Palace, but there are exceptions, including Barclays Pingit and Big Yellow Self Storage.
Minicabits USP is that its booking platform is open to cab fleets of all shapes and sizes, based anywhere in the UK. Customers are presented with multiple options when they book, enabling them to choose a firm based on price and other factors.
“Cab bookings are now shifting online at a tremendous pace, driven by customer demand and technology advances,” said CEO Amer Hasan. “Far from seeing this as ‘game over’ for the cab operators, we think the game has only just begun! Some of the earliest UK entrants were perhaps armed with more money than sense, whereas Minicabit has quietly grown its cab network, industry leading partnerships and superior online features to enable customers everywhere to pre-book a great cab deal on any device.”