Kabbee wants to help those who love minicabs find the best price for their ride. The company received $6.1 million (£3.8 million) in funding today.
A minicab is a private, for-hire cab that cannot be hailed. They aren’t like pricier black town cars either, however. They’re just a normal ride that only operates in specific time slots. Kabbee acts as a marketplace for these minicab drivers so people can more easily compare prices among the different private cab owners.
Kabbee plans to use the money to expand beyond London, where minicabs are popular. Octopus Investments partner Simon King says the minicab is a “fragmented” one worth $2 billion, and is in need of this kind of marketplace.
The company was founded in 2011 and is headquartered in London. Octopus Investments led this round with participation from Simon Nixon.