Irish transport technology company iCabbi is set for new expansion as a contract win with a major taxi firm paves the way for its entry to markets in Sweden, Norway, Finland and Denmark.
The company is also planning further growth in 2023 with a number of research and development projects, and iCabbi expanding its product innovation team by 50 people over the next 18 months.
The company has been chosen to provide taxi booking and dispatch technology solutions to the largest taxi company in the Nordics, Cabonline. Owned by HIG Capital, the taxi firm has 4,600 vehicles across the Nordic region, and delivered revenue of €413 million in 2021.
“iCabbi is delighted to be chosen as the technology partner of choice by the largest taxi operator in the Nordics, Cabonline,” said iCabbi chief executive Gavan Walsh. “We’re both ambitious companies, looking to push the boundaries of efficiency, innovation and scale for taxi and mobility services.”
The move will see a significant increase in iCabbi’s presence in Finland, where it already serves 20 per cent of the Finnish market. The company is also planning to enter more European markets in the coming months, with the Netherlands and Italy first on the list.
“By entering a partnership with iCabbi, Cabonline benefits from a market-leading solution, accelerating our growth journey and taking a big leap towards becoming Europe’s leading and most sustainable mobility company,” said Dag Kibsgaard-Petersen, president and chief executive of Cabonline Group.
The Irish company recently announced it had hit a milestone, exceeding one billion bookings on its platform earlier this month.
Founded in 2009, Irish-headquartered iCabbi provides dispatch management software that can be used by taxi fleets and private hire operators, allowing them to compete with platforms such as Uber and Lyft. It powers more than 100,000 taxis around the world with a passenger app, driver app, business solution, payment console, open API and marketplace.
In 2018 a subsidiary of French car maker Renault took a 75 per cent stake in the company, and iCabbi is now part of the Mobilize Group. iCabbi operates in Ireland, the UK, the US, Canada, Brazil, Australia, New Zealand and Finland.