Masabi announces latest investment from Shell
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.
“As mobile ticketing has evolved, so has the scope of our work. We have expanded our focus beyond just enabling the purchase of tickets to offer passengers convenient solutions for discovering transit options and driving uptake of public systems to reduce congestion."
Brian Zanghi, CEO at Masabi
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.
“While hybrid and zero-emission projects have proven that the potential for reducing costs and cutting emissions is substantial, we also see the need to take vehicles off the road by transitioning drivers to become riders. But for this to happen, there needs to be a revolution in how people make and take journeys in and around cities; public transport has to modernise and become easier and simpler to choose and use. Through our partnership with Masabi, we find ourselves at the forefront of an emerging technology that is already delivering a tangible and positive impact on how people move around towns and cities across the world.”
Roger Hunter, Vice President of E-Mobility at Shell
Read more about Shell's investment via Business Wire.