RCI Bank acquires Karhoo following sudden opportunity

RCI Bank and Services has acquired a majority holding in Flit Technologies, giving it access to UK taxi deal comparison platform, Karhoo.

Karhoo let customers compare taxi fare prices on their phones, but ran out of money in November last year. As part of the liquidation process, Flit Technologies was created, and it acquired the assets of Karhoo.

RCI Bank said its acquisition gave it access to a benchmark technological platform that it will be able to use as part of its activities for the brands of the Renault-Nissan Alliance.  

Gianluca De Ficchy, chief executive officer of RCI Bank and Services, said: “In 2016 we formed a range of partnerships to support our development strategy on auto-mobility services and solutions for our customers.

“The acquisition of the start-up Karhoo appeared as a sudden opportunity that we did not want to miss and the acquisition was completed rapidly. We have met the highly-motivated teams, and I have every confidence in Karhoo’s business model; it is innovative and underpinned by a first-class technological platform. We will also be able to capitalize on this platform as part of our activities for the Alliance brands.”