The Tab takes £3.1m extra investment as losses mount

The Tab, which started out at Cambridge University, raised another £3.1 million at the end of last year

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Jamie Nimmo31 May 2017

Online student tabloid The Tab received an extra £3.1 million from its investors after losses ballooned last year.

The start-up raised just over £800,000 in October last year and then £2.3 million two months later, accounts on Companies House reveal.

They also show The Tab made a £1.9 million loss in the year ended July, more than four times the loss from the year before. Revenues were less than £500,000, just 3% higher than in 2015.

The latest cash injection, which was made during its current financial year, comes a year after Balderton, the venture-capital firm best known for investing in Betfair and LoveFilm, backed the company with a £2 million investment.

Chief executive Jack Rivlin, who took charge when his co-founder George Marangos-Gilks left the business last year, said the £3.1 million was part of a larger funding round still in progress.

The Tab was set up at Cambridge University but now covers news for students across the UK.

The London-based company said Balderton’s initial investment was to expand into campuses in the US.