The fiercely competitive B2B taxi market has seen its first major consolidation as international ‘on demand’ app Gett completes its acquisition of Mountview House Group (MVHG), best known for operating corporate account specialist Radio Taxis.
Gett operates in 25 cities in the United Kingdom, as well as in Russia and Israel where it is the market leader, and New York. Often seen as a ‘digital disrupter’, Gett has pioneered innovative features for business users, including fixed fares confirmed at the start of a ride, PA booking, full reporting capabilities and cost code allocation.
The multi-million pound deal for MVHG sees Gett increase its fleet of highly trained black cab drivers in London to 11,500 and acquire the group’s global online booking platform One Transport, as well as boost its roster of corporate accounts.
Remo Gerber, CEO of Gett in Western Europe said:
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“No other B2B provider in the space offers the range of features we do to the business travel market. Whether you need 24/7 taxi services for the most valuable fee-earning employees, or if you’re procuring full national and international ground transportation, our technology enables pick up times of less than five minutes at low cost.
“This acquisition significantly increases our capabilities in B2B; we’re putting expansion into new territories on the roadmap, and continuing to develop our sophisticated reporting features which are needed by modern day accounts and procurement teams. We’re fast becoming the number one player in B2B in addition to our commanding position in B2C.”
Gett’s revenues grew by 300% in 2015 and are projected to reach $500 million (£350 million) globally in 2016. Its clients already include many of the world’s leading corporations and to date it has raised more than $200 million (£140 million) in funding.