The amount has not been disclosed; the online bus-ticketing service says it will use the funds to take over the US$310M market in Malaysia, Singapore
The company told e27 that the funds will be used to take over the MYR 1 billion (US$310 million) intercity bus ticketing market in the aforementioned two countries. At this point in time, the company has not disclosed the amount raised.
CatchThatBus CEO and Co-founder Viren Doshi said that this raise in funds is due to meeting online bus-ticketing demands for consumers who use more smartphones and tablets these days; that particular market is “outstripping that of PCs”.
COO Ashwin Jeyapalasingam said that the company already provides reach to over 500 destinations throughout Malaysia and Singapore. “Consumers can book tickets for leading bus operators such as Plusliner, Nice, Transnasional, Airport Coach, Intercity Express, and Starmart Express, amongst many others,” he shared.
Jungle Ventures’ Amit Anand said that the company feels privileged to work with another startup that’s solving the long-distance road travel issue in the Asia Pacific. The venture capital previously funded Travelmob.
Previously, CatchThatBus had entered a partnership with MakeMyTrip, allowing the company to leverage its partner’s technology for the travel industry.
For those not in the know, CatchThatBus is a service that’s similar to travel agent apps like Kayak, only with buses and with a focus on Malaysia and Singapore travel routes. You can check it out on Android and online if you fancy looking for the best and most efficient bus trips across the two regions.