Masabi secures growth private equity investment from Accel-KKR to accelerate platform innovation and market expansion.
The funding round was led by Accel-KKR, with participation from existing investors Shell and Smedvig Capital.
Masabi provides fare payment systems for public transport authorities via a cloud-based platform. The company operates in multiple countries, serving numerous agencies worldwide.
Ticketing technology provider Masabi has secured a strategic growth private equity investment from Accel-KKR, with participation from returning backers Shell and Smedvig Capital. The capital will be deployed to drive product development and expand the deployment of the Justride platform across international markets. Masabi aims to challenge traditional automated fare collection models by offering a cloud-based Software-as-a-Service solution for public transit authorities.
The company currently operates in nine countries with over 140 client agencies. Executives noted that the fresh injection of funds will support further scaling and technical development as the business grows its global footprint.
From the founder
"The past few years have seen a revolution in transport ticketing and payments technology, and Masabi has consistently been at the forefront, time-after-time delivering ground-breaking firsts which have shaped the industry,"
Brian Zanghi
CEO at Masabi
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Categories
About the company
Masabi
Masabi supplies ticketing technology and cloud platforms for public transport agencies globally.