Singapore-based Mystifly raises $8 million

Singapore-based Mystifly

MRO AUSSingapore-based Mystifly, a vertical SaaS and marketplace provider for the airline industry announced the conclusion of Pre Series B funding with CSVP (Cornerstone Venture Partners) bringing the total of this round to $8 million combined with earlier investments from RSI Fund I. LLC (a subsidiary of Recruit Co. Ltd.), Jenfi & Crusade Partners among others. They aim to deploy these funds to expand their presence in Singapore.

Mystifly’s API first, innovative SaaS and marketplace platform enables Online Travel Agencies (OTAs), and travel intermediaries to access a vast inventory of airfares (with or without commercial agreements with airlines), including LCC (Low-Cost Carriers), NDC (New Distribution Capabilities) (and GDSs (Global Distribution Systems) while also offering airlines an alternative distribution and payments reconciliation and settlement platform. Over 20 million air travel bookings have been booked and settled through the platform.

The platform enables its B2B customers to offer personalised travel, changing the competitive parameters to way beyond price creating an industry-transforming air retailing experience to travelers. Shopping based on attributes helps airlines position themselves better and empowers customers to make more informed decisions. Mystifly is also paving the way to democratise air travel sales allowing any business to build an ‘embedded travel’ integration for their captive audience.

“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 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,” said Rajeev Kumar, Founder and CEO of Mystifly.

With this Pre-series B funding, Mystifly plans to extend the market reach of its SaaS products and services. The company is poised for growth and looks forward to delivering even greater value to its customers and partners. The leadership team comprises co-founders Rajeev Kumar and Bharat Goyal.

Mystifly was founded in Bangalore and is now headquartered in Singapore since 2015 with a growing team of 250-plus people. The company’s global customers include Priceline, American Express Leisure Travel, JPMorgan Chase, Travel Perk, Kiwi, MakeMyTrip, Paytm, Agoda, EaseMyTrip, Arrivia, and more.

Asian Aviation

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