Japanese private equity firm Recruit Holdings has infused $5 Mn in global airfare marketplace MyFareBox, owned by Mystifly for a minority stake. Masterkey Holdings Pat. Ltd was the advisor to Mystifly for the deal.
The raised funds will be used to invest in technology, sales, and marketing to expand its global presence and grow in terms of transaction.
“The fresh funds will help us in actualising our next vision of simplifying airfare pricing, revenue management and transforming our marketplace into value hubs that benefit our ecosystem of suppliers and customers,” MyFareBox CEO Rajeev Kumar said.
Launched in 2013, MyFareBox is an anywhere-to-anywhere B2B global airfare aggregation, consolidation, and fulfillment travel technology platform. It offers bookable and ticket-able airfare content from 900+ airlines across 70+ point of sale countries on a single platform.
It identifies the cheapest route available and gets the local carrier along with the pricing available for that particular geography.
The platform includes consolidator/ private, public- and market-specific local airfares. Fare variants include Marine Fares, Student Fares, Labour Fares, Military Fares including other fare types from multi-GDS and multi point-of-sale Pseudo City Codes (PCCs).
Its clients include Thomas Cook, FCM Travel, CWT, Dnata, BCD Travel, Qunar, Yatra, Cleartrip, ezeego1, Via, Kiwi, Cheapoair, Rovia, Wipro, Kanoo, Connexions, Saveonresorts, and Smartfares.
The development was first reported by Economic Times.