Kabbee, the minicab price comparison and booking app, was lauded yesterday as one of Britain’s fastest growing startups.
The Sunday Times’ Start-up Track 15 list ranks startups according to growth in sales over the past 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 past two years, resulting in £1.3m in sales.
“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,” said Justin Peters, Kabbee’s CEO & founder.
“We are delighted to be listed as one of Britain’s fastest growing startups, and we’re looking forward to Kabbee’s future and our plans for 2016.”
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.
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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 UK minicab firms.
Kabbee said it is on track to hit its £1m investment target before the end of November and by the end of 2015 estimates that 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.