Taxi App Karhoo Comes to a Halt

KarhooTaxi booking app Karhoo has shut down in the face of financial problems.

The company is closing its office, but it seems Karhoo will continue to exist in some capacity, with its board now looking at the next steps for the business.

Karhoos service launched in London in June, trying to compete with the likes of Uber by offering price comparison across a variety of taxi services including Addison Lee and ComCab, provider of black cabs. It also featured the ability to pre-book journeys, something which Uber didnt have at the time but has introduced more recently.

It expanded to 14 UK cities a month later, and had designs on expanded internationally, with New York and Singapore next on the roadmap.

“Unfortunately, it became clear two weeks ago that the financial situation was getting pretty dire with Karhoo in urgent need of funding,” reads the companys official statement on its closure. “Discussion with a potential new backer ended last night forcing the company to stop trading.”