MyFareBox is used by travel resellers, travel management companies, tour operators and corporates and has a network of over 900 airlines
Bangalore-based Mystifly, which operates a online B2B airfare marketplace MyFareBox, has secured US$5 million in Series A round of funding, led by RSI I Fund LLC, a fund operated by Japan-based Recruit Holdings.
“This fund-raise will help us in actualising our next vision of simplifying airfare pricing, revenue management and transforming our marketplace into value hubs that benefits our ecosystem of suppliers and customers. We are expecting to grow our transactions multi-fold and invest more on our core technology, sales and marketing to grow our global footprint,” said Rajeev Kumar, CEO and Founder of Mystifly.
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MyFareBox is a B2B marketplace which is used by travel resellers, travel management companies, tour operators and corporates, globally. Its current network comprises over 900 airlines, including 170 low-cost carriers.
Till September this year, MyFareBox had half a million transactions from customers in 60 countries, covering 28,000 unique city pairs, connecting 190 countries.
MyFareBox empowers over 2,500 customers globally, including 22 travel management companies in the UK, 60-plus global OTAs, and nine Indian TMCs.
The company has a team of 190 employees.
Recruit Holdings is an active investor. In July last year, it acquired edtech startup Quipper for US$39 million. A month later, it led US$30 million investment in Japanese cloud-based accounting service freee.
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