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Octopus helps minicab price comparison service Kabbee ink £3.8m

19 Nov 2013

London taxisUK early-stage dealmaker Octopus Investments has led a £3.8m Series A funding round for London minicab price comparison service Kabbee.

Moneysupermarket.com founder Simon Nixon also made a significant contribution according to the firm, which has previously backed businesses including Zoopla, Graze and Secret Escapes.

Octopus ventures team member Simon King said, “Kabbee is a market leading service that brings the benefits of comparison to minicab bookers while supporting the best firms and drivers within the fragmented £2bn London minicab market.

“We are excited about backing the strong management team at Kabbee and look forward to working with them and Kabbee’s other investors in the next stage of the company’s development.”

In August consumer taxi app GetTaxi closed its $12m Series C led by European debt investor Kreos Capital, alongside participation from existing investors.

Concurrent with the funding round, the company also launched its service in New York City, adding to its presence in Jerusalem, London, Moscow and Tel Aviv.

A month earlier OpenFund-seeded taxi-hailing startup TaxiBeat secured another $2m of financing amid its launch into Mexico City.

The Athens-headquartered business has raised a total of $3.4m from private investors as well as expanded to Paris, Oslo and Bucharest in Europe and Rio and Sao Paulo in Brazil.

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