Travel tech start up Bookaway closes USD46 million of investor funding
Travel tech start up Bookaway has closed USD46 million of investor funding from Aleph, Corner Ventures, Entrée Capital, to launch the Bookaway Group, uniting ground and sea transportation companies around the world.
The group has been working collaboratively to digitalise the USD157 billion (GBP114 billion) industry, where 95 per cent of operations are still offline (local buses, trains, ferries.) By providing an online platform for up-to-date information, reviews and booking, local suppliers are able to connect and reach even more travellers, while improving access every corner of the world (over 100,000 routes and counting).
First to join the Bookaway Group is Getbybus, renowned for offering tens of thousands of routes in and around the Balkans and Western Europe, and 12Go, which offers the largest network of local transport options in and around South East Asia. Together with Bookaway, the Bookaway Group opens access to more than 100,000 transport routes, customer reviews and round-the-clock support in 14,600 cities across 80 countries globally.
The Bookaway Group aims to bridge the gap between travellers and local transport suppliers globally, enabling travellers to find and book transport options anywhere in the world, no matter what language they speak or how remote the destination is.
In less than four years, Bookaway has grown from a small Tel Aviv start-up to one of the world’s leading ground transportation companies - with further plans to expand in the USA, China and Latin American markets.
Noam Toister, CEO and founder of Bookaway, says: “Currently 95 per cent of the ground transportation industry is offline, meaning travellers waste precious time and money trying to navigate their journey on the ground, having booked their flights, hotel and experiences online. Local transport suppliers are being left behind the rest of the travel industry.
“The Bookaway Group mission is to make bus, train or ferry travel an effortless experience. Finding, comparing and booking tickets is entirely online, and customers receive 24/7 support, helping to ease traveller anxiety.
“We are privileged to join forces with two major brands, Getbybus and 12Go, each bringing with them the skills, knowledge and reach that complement our global growth mission. By working as one, we aim to bring back the liberation of travel.”
Bookaway secured USD35 million in Series B funding to launch the Bookaway Group, following USD11 million in Seed and Series A funding, since 2018. Leading Israeli investor, Aleph, has been a loyal supporter since 2019.
Michael Eisenberg, Co-founder of Aleph, says: “The Bookaway founders have impressed us from the beginning, not only with their ingenuity, but also with their passion and values. Humble and resilient in the midst of a global pandemic, the trio presented a map that no one in the travel industry has described before, particularly for the harder-to-reach areas of the world. We believe the Bookaway Group will help people to see more parts of the world, experience different cultures, meet different people, and ultimately be better humans.”