Masabi, the company bringing Software-as-a-Service (SaaS) ticketing and payments to public transport, announced a $20 million growth funding round with investment led by Smedvig Capital with MMC Ventures and other existing investors.
The capital will accelerate Masabi’s global expansion of its award-winning mobility platform, Justride, and fast-track the company’s role in bringing digital transformation to transit agencies and operators of all sizes, enabling the foundations for integrated multimodal journeys.
On target to exceed $1 Billion in annual transit ticketing sales over the coming year, Masabi will continue building on its recent additions to Justride, which removes the need for passengers to buy a ticket. Instead, they simply tap a contactless bank card, mobile phone, or smart card to travel. These innovations, together with world-first integrations with transport leaders including Uber, Transit, Jorudan, and Keolis, are making it easier for people to discover and access public transit services in an efficient and scalable way, helping place public transit at the center of the global Mobility-as-a-Service (MaaS) movement.
Masabi, which developed the first and only 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, connecting services for a seamless passenger experience:
- In April, Masabi and Transit launched an integrated service for riders in St. Catharines, Canada, enabling them to use Transit to access and ride on public transit services.
- Early in 2019, Masabi announced a new combined solution with Uber and Regional Transportation District (RTD) in Denver - the first US-based transit agency to benefit from an integrated public transit experience within the Uber app.
- Globally, Masabi’s Justride SDK is now live in France and Spain with SDK partners Kisio Digital and Gertek, and is licensed in Japan through a partnership with Jorudan, Japan’s leading trip planning service.