Minicabit raises £1.4m from Oakley et al.

The round was led by boutique investor Hambro Perks and Oakley Capital; the former recently supported Laundrapp, another London-headquartered app developer that provides on-demand laundry services.

The two backers were joined by a number of individual investors such as Adrian McAlpine and the Sangster family.

Minicabit, which currently works with 700 fleets in the UK, intends to use the fresh capital to double that figure until securing a quarter of those active nationwide. Having sealed partnerships with 10% of the UK's cab operators to date, the company is aiming to expand that network after receiving interest from 250 applicants so far in 2015. 

The business is looking to push its UK turnover to the £100m mark by 2020. According to its figures, its bookings and revenues have seen a 100% uptick over H1 2015 and further growth is expected as cab operators struggle to keep up with the move towards alternative services such as VC-backed Uber.

Oakley's investment takes place after an active summer for the firm in the UK VC space, with investments in womenswear brand ME+EM and Lancashire-based broadband provider Daisy Group. Oakley returned to the latter via the purchase of a minority interest for £39m after the company's take-private in 2014.

Company
Minicabit was created in 2010 and runs online and app-based mini-cab booking and price comparison services. Customers choose a pickup point and a destination and the business puts together a range of cab operators and fixed prices around the journey. Headquartered in London, the company currently employs around 30 professionals.

People
Rupert Hambro and Dominic Perks led the deal for Hambro Perks. Amer Hasan founded Minicabit and is currently CEO of the company.

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