Mystifly Global Consolidation & Technology Services Pte. Ltd, which operates the travel-technology and payment services company Mystifly, has raised $3.3 million (Rs 24.81 crore at current exchange rate) in pre-Series B funding, according to reports.
The Singapore- and Bengaluru-based firm, founded in 2009 by Rajeev Kumar, has raised this sum from existing investor Recruit Holdings, Inc42 reported. Recruit Holdings is a Japan-based investor and company specializing in human resources and recruitment services.
Mystifly functions through a business-to-business application programming interface (API) format, allowing clients to offer ticketing, airline retailing, and post-ticketing services to end-consumers.
It will use the capital it has raised in this pre-Series B round to strengthen the infrastructure of its airfare distribution technology and product.
Mystifly will also use the money to further develop its machine learning and data science capabilities, as well as address the inefficiencies in airline payment systems.
In October 2016, the firm raised an undisclosed sum in Series A funding round led by Recruit Holdings. Its clients include airlines, online travel businesses, e-commerce platforms, loyal programmes and aggregators, among others. The company says its partners include the likes of AirAsia, Sabre Airline Solutions, and Travelport.
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