ETtechSingapore-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).
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.
Mystifly plans to extend the market reach of its SaaS products and services, the startup said. It enables businesses to build an ‘embedded travel’ integration for their audience.
Nanika Kakkar, investment director, 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.”
Founded in 2009 in Bengaluru, the travel tech startup is headquartered in Singapore since 2015. According to the startup, its customers include Priceline, American Express Leisure Travel, JPMorgan Chase, Travel Perk, Kiwi, MakeMyTrip, Paytm, Agoda, EaseMyTrip, and Arrivia, 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.
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Mystifly plans to extend the market reach of its SaaS products and services, the startup said. It enables businesses to build an ‘embedded travel’ integration for their audience.
Nanika Kakkar, investment director, 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.”
Founded in 2009 in Bengaluru, the travel tech startup is headquartered in Singapore since 2015. According to the startup, its customers include Priceline, American Express Leisure Travel, JPMorgan Chase, Travel Perk, Kiwi, MakeMyTrip, Paytm, Agoda, EaseMyTrip, and Arrivia, among others.
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