UK taxi booking firm Hailo to merge with mytaxi
UK firm Hailo is due to merge with mytaxi in an attempt to create Europe’s ‘largest’ taxi e-hailing service set to operate in more than 50 cities.
The new company, a statement noted, will operate under the mytaxi brand and will re-brand all Hailo operations in the UK, Ireland and Spain by mid 2017.
As a result of the merger, the newly formed company will be headquartered in Hamburg and led by Andrew Pinnington, Hailo’s CEO.
“By combining Hailo and mytaxi, we have created the largest European taxi e-hailing company. We bring together world class technology, an iconic brand, high quality people and the financial backing of our shareholders,” said Andrew Pinnington, CEO designate of mytaxi.
The merger is still pending approval from the European Regulatory Authorities but a decision is expected to be made in the next few weeks.
Niclaus Mewes, founder of mytaxi, commented: “Hailo and mytaxi are both market leaders in the countries we operate. Together we are even stronger and we look forward to further innovative transport and mobility solutions as we provide compelling offers for both drivers and passengers.”
Founded in 2011 by three taxi drivers and three tech entrepreneurs, Hailo has raised $100m to date from investors including Union Square Ventures, Accel Partners, Wellington Partners, Atomico Ventures and Sir Richard Branson.