Uber Boats by Thames Clippers secures £59m financing for future expansion from NatWest and Santander

London river bus service supplier Uber Boats by Thames Clippers has secured a £59 million funding bundle from NatWest and Santander to help ongoing funding into its fleet and drydocking services.

The funding, which consists of £29.5 million from NatWest and £29.5 million from Santander, will help the enterprise’ funding plans over the following few years. They embody plans for brand new vessels, an improve to the pier infrastructure and enhancements to drydocking services. It’s hoped the funding will help the broader transport community in London.

The ability may even assist the enterprise to broaden providers and improve the variety of clear vessels that they make use of on the Thames. Clear vessels are water ferries that are powered by electrical energy.

Thames Clippers was based in 1999 with only one boat in operation. Since then, the water transport supplier now operates 20 high-speed Thames river boats, with two additional vessels in construct, in addition to an all-electric cross-river ferry, providing providers from all main London piers each 10-20 minutes.

Passenger charges have been steadily climbing following the Covid pandemic. In 2022 charges have been 7% increased than pre-Covid ranges. And in 2023,  passenger charges grew by an extra 10%. Final yr greater than 4milllion individuals travelled with Thames Clipper and managers predict continued progress.

Liam Hather, CFO at Uber Boats by Thames Clippers, mentioned: “It’s very important that we now have funding companions who’re proactive and may present us with monetary help that permits us to ship on our plans. This newest settlement offered by NatWest and Santander will help our continued funding into our fleet so we are able to present the water transport providers which prospects worth and depend on.”

Lawrence Home, Relationship Director at NatWest, mentioned: “Because the UK’s largest financial institution for enterprise, we’re delighted to help Uber Boats by Thames Clippers who’re an actual UK Marine success story. They ship an important transport hyperlink to the capital, whereas being conscious of their carbon footprint, and in addition re-invest into the UK by ordering new vessels from Wight Shipyard on the Isle of Wight.

“This facility will contribute to the advance of transport infrastructure throughout the River Thames and London. Uber Boat by Thames Clipper present a much-loved service to London commuters and guests, and we stay up for working with them sooner or later.”