Russia’s largest online service of bus tickets raised $20 million

Russia’s largest online service of bus tickets raised $20 million

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Photo: Andrei Pronin/inter/TASS

The online service to purchase tickets for a bus Busfor raised $20 million from Baring Vostok funds, “Elbrus Capital” and InVenturePartners. Investors expect that the market for bus transportation will change, as happened in his time with the tickets

Funds Baring Vostok and “Elbrus Capital” invested in the largest Russian online service to purchase tickets for a bus Busfor, said co-founder and CEO Ilya Ekushevskiy and confirmed by representatives of the funds. In addition, its share in the company increased existing shareholder InVenturePartners. A total of Busfor raised $20 million, said the officials RBC. What percentage will each of the investors, they refused to disclose.

According to “SPARK-Interfax” the owner Basfor, OOO Aniforus is a Cyprus Holding Limited, 28.6% of which belongs to Ilya Ekushevskiy, 22,78% of the funds Inventure Fund (included in InVenturePartners) and Finsight, another 14.3% from Intel Capital and 11.5% at Whitehill Investments.

Busfor, founded in 2012, works with 5 thousand bus operators. The service earns a fee, which is about 15% of the cost of the ticket. The average ticket costs about $20, says Ilya Ekushevskiy. According to his estimates, the company’s revenue is growing 400% year-on-year. The absolute figures, he refused to disclose, saying only that the end of the year, the company will sell about 1 million tickets.

The bus transportation market is about 200 billion rubles, while the share of e-sales accounted for only 3%. However in 2019 it can grow up to 20%, calculated in Busfor. This happens also thanks to the world Cup in 2018, predicts Ilya Ekushevskiy. The site has a big advantage over stations that do not speak English or Chinese, he says. According to him, Busfor already in talks about possible transfers for the fans.

Respondents RBC experts agree that the online segment has a great potential. Now on the market a lot of small offline players, but in the future it will consolidate and get onto the Internet, as happened, for example, in the case of air or rail transportation, says Anton Letin, CEO aggregator “Ru-Net”. Initially, “Ru-Net” acts as an intermediary between the ticketing services and bus parks, however, recently launched a new website Autobus.Travel, designed for sale direct to customers.

In March 2016 an opportunity to purchase tickets on the bus launched a “Coherent trevel”. His partners on the project were Busfor and “Ru-Net”. In late may, the function buy bus tickets appeared on the “tutu.ru”, which was previously proposed rail and air. In the summer monthly growth of sales of bus tickets up to 150%, says the representative of “tutu.ru”. In his opinion, due to the fact that people have started to save and are choosing the bus instead of train or plane. According to “tutu.ru”, the average cost of a bus ticket for international flights is 2,5–3,5 thousand rbl., for interregional 1-2 thousand rubles., regional — 400-500 rubles.