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Kabbee offers shares to investors

Kabbee, the minicab price comparison and booking app, is offering a 2.71% stake of the business as part of its latest funding round, to help with expansion plans.

Earlier this month Kabbee launched a crowdfunding campaign on Crowdcube, in a bid to raise £1m, for expansion plans. Investors will receive a 2.71% stake in the company, which is valued at £36m, along with rewards including up to a year’s free loyalty membership and credit towards cab journeys.

The minicab booking app is one of the first companies to offer shares typically only issued to VCs or Angel investors. The A Ordinary shares being offered, will give investors full voting rights, price protection on a down round and additional upside when compared to standard ordinary shares.

Justin Peters, Kabbee’s CEO & founder said: “Securing £1m funding with our crowdfunding round puts us in a great position to move forward with our expansion plans, which is why we’re offering these unique shares to investors, who we’d love to be a part of our journey.”

Kabbee has submitted an application for advance EIS Assurance from HMRC, and subject to HMRC Clearance and investors own circumstances, there is further upside on offer.

By the end of 2015, the Kabbee app will have been downloaded around 600,000 times and the company will have overseen about 1.75m journeys.