Busbud, a Montreal, Quebec, Canada-based intercity bus travel startup, raised $1m in first round of financing.
Backers included Canadian funds iNovia Capital and Real Ventures and Peter Kern, Expedia board member and Managing Partner of private equity firm InterMedia Partners, and Joe Poulin, CEO of travel startup Luxury Retreats. In conjunction with the funding, David Nault (iNovia Capital) and JS Cournoyer (Real Ventures) are joining as board members. Chris Arsenault, Managing Partner of iNovia Capital, is joining Busbud’s advisory board.
The company intends to use the funds to grow the team and build the business.
Co-founded in 2011 by CEO Louis-Philippe Maurice, Michael Gradek and Frederic Thouin, Busbud provides a website and free mobile application that give travelers access to intercity bus travel information and ticket purchases, and gathers intercity bus schedules for 4379 cities in 66 countries.
The company is currently expanding ticketing partnerships worldwide.