First publishedon www.ITSInternational.com
has secured £20 million in a funding round to accelerate the expansion of its mobility platform Justride.
Masabi says Justride removes the need for passengers to buy a ticket by allowing them to tap a contactless bank card, mobile phone or smart card to travel.
The round of investment, led by venture capital firms Smedvig Capital with MMC Ventures, is expected to allow the company to bring its ticketing and payments technology to more cities and transit operators around the world.
Additionally, Masabi says it will also use the fund to work with partners such as Uber, Jorudan and Keolis in making it easier for people to discover and access public transit services.