Mystifly raises $8M in Pre-Series B funding for Airfare Marketplace
- ByStartupStory | March 23, 2023
Mystifly, an air retailing and payments platform headquartered in Singapore and Bengaluru, announced on Thursday the completion of its pre-Series B funding round.
Cornerstone Venture Partners (CSVP) led the latest investment round, adding $8 million to the earlier investments from Crusade Partners, Jenfi, RSI Fund I LLC (a subsidiary of Recruit Co. Ltd.), and others.
Mystifly had secured $3.3 million from Recruit Co., Ltd. in a pre-Series B round of funding in July 2020. The current pre-Series B round of $8 million, led by Cornerstone Venture Partners and joined by other investors including Recruit Co., Ltd., will enable Mystifly to expand the market for its software-as-a-service (SaaS) offerings.
Rajeev Kumar and Bharat Goyal, the co-founders of Mystifly, lead the company’s leadership team.
Founder and CEO of Mystifly, Rajeev Kumar, stated that “the latest funding round will accelerate the development of the company’s data and technology capabilities, as well as broaden its global presence, distribution, and range of products and services”.
Mystifly, which was established in Bengaluru in 2009 and is now based in Singapore, provides a full-stack API platform for established travel firms as well as new-age e-commerce and travel intermediaries.
“During the pandemic, the company developed numerous solutions for various stakeholders, demonstrating its resilience and positioning it well for future growth,” remarked Nanika Kakkar, Investment Director of CSVP Fund.
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