Masabi delivers Fare Payments-as-a-Service (FPaaS) via its cloud-based Justride platform, combining SaaS and cloud computing to modernize transit ticketing. Its platform is designed to replace legacy, monolithic automated fare collection systems with quicker, lower-capex upgrades. Masabi operates in nine countries and serves more than 140 customers, with deployments in cities including Denver, Las Vegas, Boston, Los Angeles, San Antonio, Columbus, Calgary, Birmingham, Valencia, Bilbao and Osaka. The company plans to use the recent strategic investment to accelerate product development and expand deployments across North and South America, Europe and Asia-Pacific. The announcement frames Masabi as continuing to disrupt legacy ticketing by enabling transit agencies to adopt new consumer-facing innovations more rapidly and cost-effectively. Masabi was advised in the round by CKS Finance and a legal team from Smoosmiths. Masabi builds and operates Justride, a Fare Payments-as-a-Service platform that enables mobile ticketing, account-based fare collection and contactless payments for public transport. The company supports integrations with partners such as Uber, Transit, Jorudan and Kisio Digital and serves over 70 clients across 13 countries. Masabi processes more than $1 billion in annual transport ticketing sales and continues to add features such as tap-to-ride using contactless bank cards, mobile phones or smartcards. The company emphasizes replacing bespoke fare collection systems with a quickly deployable, continuously updated platform to enable Mobility-as-a-Service (MaaS). Masabi’s expansion plans are being supported by a newly finalised investment from Shell to accelerate global roll-out of the Justride platform. The company lists investors including Mastercard and Keolis and has offices in New York, Denver, London and Cluj. Masabi is a Software-as-a-Service ticketing and payments provider for public transport, led by CEO Brian Zanghi. Its core product, the Justride fare-collection platform, supports mobile ticketing, account-based full fare collection using contactless bank cards, mobile devices and smartcards, and a Justride SDK to enable Mobility as a Service integrations. The Justride SDK allows journey planners and micromobility providers to integrate public transit into their apps, with integrations including Uber, Transit, Jorudan and Keolis. Justride is in operation with more than 50 transport agencies across ten countries, serving customers from tier-one cities to local bus operators such as Boston MBTA, New York MTA, National Express and others. The company operates offices in New York, London, Denver and Cluj. Masabi intends to continue expanding its mobility platform and drive digital transformation for transit agencies and operators of all sizes. Masabi offers JustRide, a cloud-based, end-to-end mobile ticketing and fare collection platform that includes apps for ticket purchase, display and inspection plus back-end infrastructure for payments, ticket management, inspection, customer service, reporting and real-time analytics. The platform is designed to reduce the cost of fare collection by removing the need for costly hardware and ticket media while providing agencies with big-data analysis and visualization tools to better plan and optimize services. Masabi 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 company is expanding strategic partnerships—notably with MasterCard and Keolis—to accelerate deployments and product integrations. MasterCard and Masabi are integrating the MasterPass digital wallet into JustRide, and Keolis is working to include Masabi’s ticketing in its PlanBookTicket offering. Masabi raised $12 million in growth funding to support global operations and speed to market. Masabi develops and deploys JustRide, a cloud-based end-to-end mobile ticketing and fare-collection system that includes mobile apps for ticket purchase, use, and ticket agent validation. The UK company positions its product as a lower-cost, faster-to-deploy alternative to traditional fare-collection systems and promotes an “agile” cloud approach. Its technology is already in use by more than 13 UK transit agencies and retail brands, including Virgin Trains, First Group, CrossCountry Trains and thetrainline.com, and it deployed JustRide for Boston’s MBTA in late 2012. Masabi plans to add NFC support in the future. The company recently hired Josh Robin as VP of Strategy and Business Development for North American operations as part of its U.S. expansion. It is opening a New York office to accelerate deployments with U.S. transit agencies.

Total raised

$41M

Funding rounds

7

Latest round

Series B

Latest activity

Apr 2019