An intrepid UK start-up has secured a prestigious package of investment and mentoring from one of Britain’s leading business minds, Ed Wray.
The Betfair founder has invested an undisclosed amount in instant price comparison and cab booking app Kabbee
, and will now play an active role in advising the company.
He made the investment together with two angels from Smedvig Capital (Streetcar) and will be joined as a mentor by Tim Levene from Augmentum Capital (Borro, Bathrooms.com).
The funding round, which was led by Samos Investments, also included “significant” contributions from Pentland Group (Speedo, JD Sports, Hunter) and Redbus Group (LOVEFiLM, Lionsgate).
Kabbee CEO Justin Peters said the investment would aid further expansion, commenting:
There are lots of companies planning to revolutionise the cab industry – it’s an extremely competitive market – and that’s why the endorsement of this group of high calibre investors is so valuable to us.
“It will allow us to leverage our technology, consolidate our brand and provide even better cab options for consumers going forward.”
Shan Drummond, director of Samos Investments, added: “Kabbee is leading the way in helping consumers book cabs from their smartphones and online, whilst guaranteeing great service and prices.
“We are delighted to be a part of the next stage of Kabbee’s development.”