Masabi has announced its latest investment from energy producer, Shell. This investment is an extension to Masabi’s recent $20 million growth funding round. Shell’s investment will help support the global expansion of Masabi’s Justride platform.
Masabi is currently processing more than $1 billion in annual transport ticketing sales and has over 70 clients across 13 countries. Masabi’s world-first integration with transport leaders including Uber, Transit, Jorudan and Kisio Digital is making it easier for people to choose and use public transport services through mass is making it easier for people to choose and use public transport services through mass consumer apps, helping place public transport at the center of the global Mobility-as-a-Service (MaaS) movement.
Instead of bespoke fare collection systems which are slow to deploy, expensive, often in place for decades and do not easily update with new features and functionality, cities can move to a Fare Payments as a Service model using a platform which is quick to deploy, reduces costs and is constantly updating with new features available for everyone to use. This new way of delivering ticketing services helps cities keep up with the pace of technology change while allowing more money to be put back into running transport services.
Read more about Shell’s investment via Business Wire.