Bus ticket booking platform Busfor raises $20 million for its international expansion

Busfor, a Moscow-based travel tech startup, has raised $20 million in new funding from Baring Vostok and Elbrus Capital along with participation from previous investor InVenture Partners.

The Busfor service connects bus travellers with bus ticket sellers in a market where air and trains tickets have been simplified through tech but bus tickets have seemingly lagged behind. The service is currently available in Russia, Eastern Europe, and Thailand with 5,000 bus companies and two million monthly customers.

The new funds will be used for marketing and to plot out its future expansion into more new countries with Belarus and Kazakhstan on the road map. Meanwhile the founders claim that that it will reach 20% of the Russian bus ticket market by 2019.

“By developing distribution channels and attracting new clients, we help carriers fill their buses and increase the quality of their service,” said CEO Ilya Ekushevskiy.

“We will employ our network capacity and experience to help Busfor to expand in all directions,” added Anton Inshutin, managing partner of InVenture Partners, which increased its funding in the company as it has the potential to transform bus ticket sales it said.

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