Travel Tech Startup Mystifly Raises $8 Million In Funding From Cornerstone Venture Partners, Others
03/23/23, 7:11 AM
Location
singaporeMoney raised
$8 million
Singapore-based travel tech startup Mystifly on Thursday announced that it has raised funds from CSVP (Cornerstone Venture Partners), concluding its pre-series B funding at $8 million, which includes earlier investments from RSI Fund (a subsidiary of Recruit), Jenfi & Crusade Partners, among others.Mystifly offers SaaS and marketplace platform for the travel distribution sector. It enables online travel agencies and travel intermediaries to access the inventory of airfares (with or without commercial agreements with airlines).The startup also offers airlines an alternative distribution and payments reconciliation and settlement platform, it said in a press statement. It claims to have booked and settled over 20 million air travels through the platform.Mystifly will use fresh funds to speed up the growth of its data and technology capabilities and expand its global footprint, distribution and product offerings."We are excited to welcome CSVP as an investor alongside our earlier investor RSI, and Jenfi & Crusade Partners as we expand Mystifly's reach. We've rebuilt the digital plumbing lines for airlines & intermediaries, enabling them to adapt to today's e-commerce world," said Rajeev Kumar, founder and CEO, Mystifly.Discover the stories of your interestBlockchain5 StoriesCyber-safety7 StoriesFintech9 StoriesE-comm9 StoriesML8 StoriesEdtech6 StoriesMystifly plans to extend the market reach of its SaaS products and services, the startup said
Company Info
Location
singapore
Additional Info
Mystifly is the new operating system enabling companies to start and succeed in the airline retailing business. Mystifly offers a Tech Stack for Traditional Airlines & Low Cost Airlines Shopping, Aggregation, Retailing, Consolidation & Payments – All through a single platform. As a Borderless Airfare Marketplace platform Mystifly covers 700+ IATA and non-IATA airlines including 200+ LCCs. With direct airline integrations, NDC, multi-GDS sourced from 80+ point of sale countries in the Americas, EMEA and APAC, Mystifly’s B2B SAAS model offers the most powerful tools to any travel/ ecommerce intermediary who wishes to start or expand their air business globally. .
* Founded in 2009, the company focuses on applying the right mix of technology and innovative thought process to create solutions that disrupt and simplify airfare distribution.
* Mystifly allows search, ticket, ancillary sales and post bookings management process on more than 700+ airlines. All through one single B2B API SAAS platform.
* Mystifly offers Multi-currency B2B payment and settlements in the respective currency of the customer and airlines removing payment in-efficiencies
* Mystifly combines the 3 traditional pillars of travel industry into one platform thereby removing the inefficiencies of silo platforms
* Recipient of the World's Leading Airline Consolidator title from World Travel Award in 2015, 2016, 2017, 2018, and 2019.