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Mystifly, a platform for air retailing and payments with headquarters in Singapore and Bengaluru, announced that it's pre-Series B funding round was now complete. The $8 million round was funded by Cornerstone Venture Partners (CSVP) as well as prior investors including Jenfi, Crusade Partners, and RSI Fund I, LLC, as per reported by BW Disrupt.
Mystifly intends to increase the market reach of its SaaS products and services with the help of this Pre-series B funding. The business is ready to expand and anticipates providing its clients and partners with even more value.
"We are excited to welcome CSVP as an investor alongside our earlier investor RSI, and Jenfi & Crusade Partners as we expand Mystifly's reach. The pandemic has made us more resilient, and our investment in a multi-source search, servicing & payments platform has resulted in a self-onboarding enterprise-level air travel platform for airlines and travel intermediaries. We've rebuilt the digital plumbing lines for airlines & intermediaries, enabling them to adapt to today's e-commerce world." - Rajeev Kumar, Founder, and CEO of Mystifly. This investment will help speed up the growth of Mystifly's data and technology capabilities and expand Mystifly’s global footprint, distribution & product offerings.
Mystifly was established in Bangalore but has relocated its headquarters, together with a growing staff of more than 250, to Singapore since 2015. Names like Priceline, American Express Leisure Travel, JPMorgan Bank, Travel Perk, Kiwi, MakeMyTrip, Paytm, Agoda, EaseMyTrip, Arriva, and many more are among the company's international clients.
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Nanika Kakkar, Investment Director, CSVP Fund shared, “We have seen technology transformations across multiple sectors in the last decade, but for the travel industry. Today it is ripe for disruption as air travel becomes more pervasive and consumers seek specific personalized solutions. Mystifly is leading this change and empowering intermediaries to be digital first while also offering enhanced attributes to make consumer 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. We truly believe in the potential of the platform and are excited to be on the growth journey with Rajeev and Bharat.”
About Mystifly
Mystifly began its journey in 2009 as an online platform for consolidating travel companies to source regional airfares and issue tickets internationally. Over the past 13 years, they have established themselves as a market leader by providing SaaS-based solutions to address a variety of problems in the airline merchandising and retailing space. They have also strengthened our position as a reputable and trustworthy airfare marketplace.
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