Veezu Scoops Fastest Growing Business in Consumer Services
Private hire operator, Veezu, has been named as the Fastest Growing Firm in Consumer Services as well as the third fastest growing company in Wales.
The stellar growth of the company, founded in 2013 by entrepreneur, Paul Ragan, was recognised in the annual Fast Growth 50 Awards, which are compiled by Professor Dylan Jones Evans OBE, in conjunction with the Western Mail.
Veezu achieved an astounding growth of 905.2% between 2013-2015, which helped to shoot it towards the top of the corporate growth charts in Wales, and bagging the number one spot for the fastest growing consumer business.
The firm, which operates three regional hubs in South Wales, Leeds and the Midlands, has grown through an ambitious process of acquisition and consolidation. Over the course of three years, turnover has grown from £1m to £20 million; staff numbers have leapt from 25 to 235 and vehicle numbers have shot up from 250 to 2,500. Veezu now moves around 22 million passengers per year.
Upon receiving the award, Paul Ragan said: “This is fantastic recognition of the hard work the team has put in over the past three years to propel Veezu into being one of the largest private hire firms in the UK.
“We have grown from small beginnings to become a major force in the private hire industry, and are now better positioned to lead consolidation throughout the UK.
“But we don’t intend to stop here. As long as we continue to perform and maintain the confidence of our funders, I see no reason why we shouldn’t achieve our objective of 5,000 cars by 2018.”
This is the second time that Veezu has graced the Fast Growth 50 charts. It entered for the first time last year, when it was placed at number 37, meaning that it has climbed 34 spaces to its current number three position.
The Fast Growth 50 was established in 1999 by Professor Dylan Jones Evans and is billed as the award that entrepreneurial businesses in Wales aspire to. The 2016 list of fastest growing companies in Wales collectively generated a turnover of nearly £700 million and employed more than 3,000 people.