Airfare Marketplace Platform Mystifly Closes Pre-Series B Round
Mystifly, an air retailing and payments platform, has closed its pre-Series B funding round at $8 Mn with fresh investment from Cornerstone Venture Partners Fund (CSVP Fund).
Earlier, the startup had raised funding from RSI Fund I, LLC (a subsidiary of Recruit Co Ltd.) and Jenfi & Crusade Partners, among others, as part of the same round.
As per the startup, the freshly raised funds will be used to expand its global footprint, distribution and product offerings and grow its data and technology capabilities.
Mystifly | Borderless Airfare Marketplace Platform
Founded by Rajeev Kumar and Bharat Goyal, Mystifly is an airline retailing-focused B2B SaaS startup that offers SaaS-based solutions to airlines and other travel intermediaries. Mystifly offers a tech stack for traditional airlines & low-cost airlines, shopping, aggregation, retailing, consolidation & Payments, all through a single platform.
The Singapore and Bengaluru-based startup offers multi-source shopping that unifies airline offers, order management and payments on a single platform enabling offer discovery, ticket order management, ancillary sales, post-booking services and payments.
Speaking about the development, Rajeev Kumar, Founder and CEO of Mystifly, said,
“The pandemic has made us more resilient, and our investment in multi-source search, servicing and payments platform has resulted in a self-onboarding enterprise-level air travel platform for airlines and travel intermediaries.”
With offices in India, Singapore, the UK, and the US, the airline retailing-focused B2B SaaS startup claims to offer services to 3,000 clients, including 700 airlines.
Enabling online travel agencies and travel intermediaries to access a vast inventory of airfares, Mystifly claims that over 20 Mn air travel bookings have been made and settled through its platform. It counts ecommerce platforms, travel management companies, fintech companies, wholesalers, and aggregators among its clients.
Commenting on the development, Nanika Kakkar, Investment Director of CSVP Fund, said,
“Mystifly is empowering intermediaries to be digital first while also offering enhanced attributes to make consumer’s decision-making easier. Through the pandemic, the company built various solutions for multiple stakeholders proving to be an anti-fragile business, well positioned to scale from here on.”
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