Masabi, a Software-as-a-Service (SaaS) ticketing and payments platform for public transport, raised $20m in growth funding.
The round was led by Smedvig Capital with participation from MMC Ventures and other existing investors.
The company intends to use the funds to accelerate global expansion of its mobility platform, Justride, and continue to bring digital transformation to transit agencies and operators of all sizes.
Led by Brian Zanghi, CEO, Masabi provides Software-as-a-Service (SaaS) ticketing and payments to public transport agencies of all sizes around the globe. Through its fare collection platform, Justride, agencies can sign up to mobile ticketing services, deploy an account-based full fare collection solution using a contactless bank card, mobile device and smartcard, and enable Mobility as a Service (MaaS) through the Justride SDK.
Justride removes the need for passengers to buy a ticket. Instead, users can tap a contactless bank card, mobile phone or smartcard to travel.
The company’s ticketing Justride Software Development Kit (SDK) for public transport enables urban mobility providers such as journey planners and bike-, scooter- and ride-sharing services to integrate public transit into their applications.
Integrations include transport leaders including Uber, Transit, Jorudan and Keolis.
Justride is currently in operation with more than 50 transport agencies in ten countries, from tier one cities to local bus operators, including for Boston MBTA, National Express, New York MTA, HTM The Hague, TAO Orleans, Denver RTD, LA Metrolink, Lurraldebus in Spain, My Fast Ferry in Sydney and Las Vegas RTC.
The company has offices in New York, London, Denver and Cluj.