VEEZU has announced an new finance facility with Santander and Tosca Debt Capital to enable it to further grow its positioning as the UK’s largest multi-region private hire taxi company.

The arrangement will fully refinance Veezu’s capital structure to enable it to bolster its market-leading positioning.

Veezu has four major service hubs throughout the UK, each operating under established local brands, including Dragon Taxis in South Wale.

Veezu, which was founded in 2013, operated with more than 4,650 active driver-partners during 2019, delivering more than 13 million private hire journeys per year, equating to an overall transaction value in excess of £120 million.

On completion of the refinance, Veezu also confirmed the appointment of Alan Peterson OBE as Chairman to further support the company’s growth plans.

Nathan Bowles, CEO at Veezu, said: “We are grateful to Santander, Gambit Corporate Finance, Tosca Debt Capital and Osborne Clarke for the time they have taken to understand our business and the belief they have shown in our growth strategy.

"This latest refinance supports our ambition to grow our presence in our existing operating regions and to broaden our position as the UK’s number one hyperlocal journey provider.

"We were also very pleased that Alan Peterson decided to commit to the Veezu business having worked with us over the past 12 months"