Cardiff – CFI is pleased to announce that it acted as lead financial advisor to Veezu on its acquisition of City Taxis.
Veezu was founded in 2013 and is now the UK’s fastest-growing taxi and private hire technology platform. In 2022, more than 10,000 fully licenced Veezu driver-partners helped our hyper-local communities complete an average of one ride every two seconds.
City Taxis has been operating in Sheffield, South Yorkshire and Derbyshire since 1980 and joined Veezu in 2023. City Taxis, ranked sixth for the size of its fleet by Taxi Summit, is the eighth regional hub of the Veezu group.
The acquisition help Veezu cement its place in top spot for its fleet size, almost twice the size of its second-placed rival.
Nathan Bowles, CEO of Veezu, said: I’m delighted to welcome Arnie and City Taxis into the Veezu Group. City Taxis is a high-quality business in Sheffield and surrounding areas. This deal is the biggest in Veezu’s ten-year history and adds another 20 per cent to the size of our business. I’m really pleased that Arnie will join our management team at Veezu and play a pivotal role in the next growth stage of our business.”
This transaction closed on 1 February 2023.
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