A mobile transportation ticket provider just got $12 million to ride.
That was the amount of the round announced yesterday (Dec. 7) by transport ticket solutions company Masabi, creator of the cloud-based, end-to-end mobile ticketing and fare collection system, JustRide. New investors in the round were Keolis, Lepe Partners and MasterCard, with previous investor MMC Ventures also participating.
In a press release, Masabi states that it presently works with more than 22 transport operators and agencies worldwide, including Virgin Trains, Abellio, Thames Clippers, New Orleans RTA, Boston’s MBTA, Las Vegas, Transport for Athens, and New York’s MTA. The latest round is focused on building strategic partnerships with MasterCard, which is integrating the MasterPass digital wallet into JustRide, and Keolis, which is working to include Masabi’s mobile ticketing into its integrated digital offering.
"Our mission is to transform everyday transport for millions of people in cities worldwide. The combination of Masabi, MasterCard and Keolis represents three companies working at the forefront of their respective fields to develop and deploy products, making this a reality,” Brian Zanghi, CEO of Masabi, stated in the release. “We are delighted to welcome their investment together with that from Lepe Partners and MMC Ventures to support our operations around the world where mobile ticketing is enhancing the quality of life of urban residents and visitors and bringing about smarter, better connected cities."
"Technology is revolutionizing city transport and Masabi is at the forefront of this movement, working in major global cities such as New York, London and Athens,” said Hany Fam, president of MasterCard Enterprise Partnerships, in the release. "Making access to a city’s transit system as simple as possible for residents and visitors is a key component for sustainable urban growth.”
Also commenting was Jean-Pierre Farandou, Executive Chairman of the Keolis Group, who stated: “As a leading public transport operator, one of our key priorities is to improve our passengers’ travel experience, using mobile technology to make journeys seamless. Through our partnership with Masabi, our PlanBookTicket solution will go up to the next level by integrating Masabi’s ticket technology. The combination of our expertise will give us a step ahead both in France and around the world.”