12 years ago

Masabi Secures $2.8 Million to Expand Mobile Ticketing Solutions in the US

  • Masabi, a leader in transit mobile ticketing and agile fare collection, has secured $2.8 million in funding from Fontinalis Partners, MMC Ventures, and existing investor m8 Capital

  • The funding will be used to accelerate US transit agency deployments

  • Masabi's JustRide product is a cloud-based, rapidly deployable, end-to-end mobile ticketing and fare collection system that allows customers to purchase tickets without needing to wait in line

  • The company has already processed more than $50 million in ticket sales per year across its systems worldwide and continues to see strong growth

  • In November 2012, Masabi launched the US's first system-wide mobile ticketing deployment for Boston's MBTA

  • The company has also opened a new office in New York.

      • ProblemTransportation

      "Waiting in line to buy a ticket for public transportation can be a hassle, and traditional fare collection systems are often expensive and time-consuming to set up."

      Solution

      "Masabi's cloud-based mobile ticketing and fare collection system allows public transportation agencies to provide a convenient and modern way for passengers to buy and validate tickets, reducing wait times and increasing efficiency."

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