Myanmar, with around 54 million population, is a sizzling startup market. Although the Internet population is still very minuscule (2.5 per cent of the total population), the country has started realising the importance of startups.
Internet company BOD Tech is already an active investor in Myanmar and has invested in three companies — flymya.com, on-demand delivery service Yangon Door 2 Door, and Myanmar’s first on-demand laundry service Laundry.com.mm.
BOD has made its latest investment in Star Ticket — a Yangon-based online bus ticket booking platform. The funding, worth US$200,000, will be used to onboard more bus operators and expand its online channels and offline agent channels.
Thet Mon Aye founded Star Ticket together with her brother Zarni Nway Oo. The startup’s agent software is provided to retailers (convenience stores and mum-and-pop shops), so that customers can pay and collect tickets effortlessly. Since cash is still the king, this mode of payment is well appreciated by travellers who are not able to make payment online.
Travellers can get their bus tickets in a few clicks on the portal, which is linked to bus stations, in real time. On the other hand, the agent software empowers low-income individuals to earn extra income by selling bus tickets.
Currently, Star Tickets has more than 500 vendors that include three major convenience chain stores, and processes more than 2,200 tickets monthly. The platform is utilised by bus operators in 12 cities as of now.
“Star Ticket has so much potential as it has both online and offline sales channel. This investment will bring synergy between Myanmar largest flight portal and fastest growing ticketing portal together.” Mike Than Tun Win, Founder of BOD Tech, said.