Taxi Driver Online

Veezu targets £100m turnover


The founder of Newport-headquartered taxi and private hire group Veezu has told Insider of his plans to grow it into a £100m-turnover business, with new acquisitions and investment expected.

In an interview featured in the latest edition of the Wales Business Insider, Paul Ragan (pictured) revealed that Veezu is currently negotiating further funding with the aim of acquiring nine companies in the next 12 months.

It intends to buy a new taxi hub in a city in England as well as smaller purchases to strengthen its operations in South Wales.

Turnover is expected to hit £100m in 2017 at which point new investment will be sought.

Ragan said: "I anticipate introducing private equity in 2017. We have had a lot of interest.

"I see the business scaling to £100m turnover, with 10,000 cars. That will depend on getting the right private equity partner. A large part of the work is determining which partner to go with.

"Planning for private equity is very different to planning for bank funding. We really need to be on top of our game."

Veezu was founded in 2013 by former Protectagroup and Cardiff Devils chief Paul Ragan and Smart Solutions chief executive Nathan Bowles.

It has previously acquired Dragon Taxis in Cardiff and Newport, Radio Cabs in Bridgend, Amber Cars in Leeds and A2B Radio Cars in Solihull.

source: http://www.insidermedia.com/insider/wal ... m-turnover

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Think of how stupid the average person is, and realize half of them are stupider than that.
George Carlin

The Higher you get the Longer the fall..

that hasn't happened to AL,Delta or Uber the bigger you get the more muscle you have plus economies of scale

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lack of modern legislation is the iceberg sinking the titanic of the transport sector

Give em time..

So each car will pay £10,000 a year, i.e. £200 a week.

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IDFIMH

No doubt they'll get ripped off with their contracts. Some will be renting and some will be owner drivers.

I was speaking to a guy at the local train depot a month or so ago, he was doing work for Cabfind, he'd come all the way from Warrington to Toton, he was getting £75 for the job.

more fool him we charge cabfind full meter rate so from here to Toton goes over £100.

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lack of modern legislation is the iceberg sinking the titanic of the transport sector