Kabbee, the multi-award-winning minicab price comparison and booking app, was announced yesterday as one of Britain’s fastest growing start-ups, as part of The Sunday Times’ Start-up Track 15 list.
The new league table for 2015, published by The Sunday Times yesterday, ranks the start-ups according to growth in sales over the last two years. Companies qualified if they grew annual sales during this time from more than £50,000 to over £1m – provided sales were less.
Kabbee secured a place on the list after seeing an increase of 257% in annual sales over the last two years, resulting in £1.3m in sales. The Start-up Track 15 list features other emerging brands such as fresh coffee delivery service Pact, which has offers available on Kabbee’s loyalty programme, Kabbee Treats.
Last week, Kabbee launched a crowdfunding campaign targeting at least £1m of investment via Crowdcube, and has already received over 30% of its funding target in less than a week. The funding will be used to help Kabbee expand in major cities outside of London, whilst updating its established dispatch and GPS technology, supporting the best UK minicab firms.
Kabbee is on track to hit the £1m investment target before the end of Novemberand by the end of 2015 the Kabbee app will have been downloaded 600,000 times, transporting 250,000 passengers on 1.75 million journeys.
Investors in this crowd round will be entitled to a stake of the business, as well as up to one year’s Kabbee Loyalty membership*, giving them free cab credit, executive journey upgrades, access to their 5 Minute Punctuality Promise**, and a wide range of treats from Kabbee’s partners.
Since its launch in 2011, Kabbee has received investment from two of the UK's most successful ecommerce entrepreneurs, Ed Wray, co-founder of Betfair and Simon Nixon, founder of Moneysupermarket. Kabbee is also supported by Octopus Ventures, which backed Zoopla.
To invest in Kabbee today, please click here for more information.
Justin Peters, Kabbee’s CEO & Founder comments on the Sunday Times Sage Start-up Track 15 announcement: “Despite playing in the same space as the fastest growing company of all time, Kabbee has been growing successfully in London for four years, and revenues are on track to increase from £790K in 2013 to over £1.8m in 2015.
“We are delighted to be listed as one of Britain’s fastest growing start-ups, and we’re looking forward to Kabbee’s future and our plans for 2016.”
For more information please contact the Kabbee press office at Sense Communications at Kabbee@sensecommunications.co.uk or call 0203 551 3954.
-Notes to Editor-
- *Kabbee launched the industry’s first ‘Kabbee Treats’ Loyalty Programme, which rewards its users with goodies from Kabbee and some great brands such as Urban Massage, LateRooms.com, Naked Wines, Pact Coffee, Hubbub, Housekeep, LOVESPACE, Bloom & Wild and La Gourmandina. The app’s top users are entitled to a selection of rewards, based on how many miles they have earned via Kabbee over a three month period. Kabbee’s users earn one mile for every £1 they spend, and earn more miles for referring friends to Kabbee, booking an executive cab or travelling to/from the airport.
- ** If you are a loyal Kabbee user, and your cab arrives more than five minutes late, you are entitled to the 5 Minute Punctuality Promise. For full terms and conditions, see here.
Sunday Times – Start-up Track 15 Criteria
- Start-ups had to be registered in the UK and be independent, unquoted and ultimate holding companies. Companies were ranked according to the compound annual growth in their sales over two years, based on their latest figures (2012 to 2014 or 2013 to 2015). The research therefore carries the caveat that their performance may have changed since. It is not a definitive ranking due to the limited disclosure of startup revenues.
- Companies had to have significant sales (£50,000+) in their base year (2012 or 2013), but annualized sales of less than £50,000 in 2011, if they were founded before 2012. Sales had to exceed £1m in the latest year (2014 or 2015).
- Many small firms file abbreviated accounts. There will, therefore, be omissions and some subjective decisions have been made to compile the list. The research was carried out by Fast Track in October.
- The full league table was published on pages 28 and 29 of The Sunday Times Start-up List magazine on 15 November, both in print and on the digital edition, and on www.fasttrack.co.uk.
- The sponsor does not endorse, guarantee or recommend investment in any of the companies.
- Kabbee is a licensed minicab price comparison and booking service available in London as an app on iPhone, Android, Blackberry 10 app, Windows Phone 8, and at Kabbee.com.
- Kabbee lets users instantly compare quotes from more than 50 leading London fleets – based on price, time, location and type of car – and then book and pay by cash, card or pre-paid account. This saves passengers time and money and increases fleet efficiency.
- Kabbee was launched in June 2011 and has had more than 585,000 app downloads to date.
- Kabbee won the UK Mobile App & Design Awards for ‘Best Startup App’ in June 2014.
- Kabbee was recently named as a ‘Future 50 Brand’ by Real Business, for being one of Britain’s most exciting and disruptive new businesses.
- Kabbee won Bronze for ‘Best Travel & Tourism App’, as voted for by The Appys Awards 2014.
As the world’s first and most successful investment crowdfunding platform, Crowdcube enables entrepreneurs to bypass the traditional business angel, venture capital or bank finance routes, giving them more control and access to more investors. For investors, Crowdcube provides them with a way to cherry-pick a stake in an innovative business that traditionally would have been restricted to corporate investors. In addition, they can now benefit from a fixed return per annum by lending money to more established companies offering a bond on Crowdcube.
Since 2011, Crowdcube’s 219k savvy investors have raised £114 million for 314 successful pitches including JustPark (raised £3.7m), Sugru (£3.5m), Camden Town Brewery (£2.8m), easyProperty (raised £1.4 million), River Cottage (raised £1 million) and Eden Project (raised £1.5 million in just 20 hours).
Investing involves risk and should be done only as part of a diversified portfolio. Investing equity in start-ups and early stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution. Mini-bonds can be unsecured, non-convertible and non-transferable. Crowdcube is targeted exclusively at investors who are sufficiently sophisticated to understand these risks and make their own investment decisions. Crowdcube is authorised and regulated by the Financial Conduct Authority (No. 572026)
For further information please contact:
Crowdcube’s PR consultancy, Eureka Communications
T: +44 (0)1420 564346