Daba participates in BuuPass’ $1.3m pre-seed round
2 min Read February 19, 2023 at 8:10 PM UTC
Congratulations to BuuPass – Bus, Train & Flight bookings on their fundraising round and recent successes. We are excited to have enabled institutional and individual investors to invest in the company’s journey.
BuuPass is a B2B2C full-stack marketplace for sales and ticketing management for long-distance transport industry (bus, shuttle, train & flight) in the East African region.
The Problem: Transport services in Africa are highly fragmented and undigitized.
The Solution: A digital fullstack marketplace where transport operators can digitize their operations and increase sales via Buupass marketplace & partners and Travelers can search, compare and book their tickets.
At Daba Finance, we have a strong focus on driving capital into companies that are creating positive change and driving innovation in their respective industries. With a $40B domestic travel and transport market in Africa and $24B spent on bus tickets in Sub Saharan Africa, BuuPass is well-positioned to make a significant impact on the transportation sector.
Here are 5 reasons why investors liked BuuPass, why we listed the company and what made their capital raise a success:
1️⃣ Strong Traction and First Mover Advantage : BuuPass is the first transport marketplace in East Africa with a 73% 5-year CAGR since inception; the company reached break-even in July 2021.
2️⃣ Interoperability: BuuPass’s interoperability across multiple apps is a competitive moat; the integration of the M-PESA super app allows it to access over 500M+ mobile money users (potential customers)
3️⃣ Experienced Team: Sonia Kabra and Wyclife Omondi are amazing. The team has solid experience from World Bank, Airtel, safari com, andela, and SWVL along with a street-smart attitude. The team equally has high quality advisors.
4️⃣ Current Investors: Current investors in this round include Five35 Ventures , Founders Factory Africa, Changecom Capital, Google for Startups Black Founders Fund Program, Maxime Bayen, and Nairobi Business Angel Network. These investors have invested in notable companies such as Zazuu, Zuri Health, Shuttlers, Bitmama, Africa Foresight Group, ImaliPay among others.
5️⃣ Social Impact: BuuPass is addressing a key challenge in the transportation system across East Africa as it is making commuting easier and more convenient for individuals.
We look forward to following the growth and success of BuuPass.
To find more about how Daba powers investing in Africa opportunities for individual and professional investors visit our webpage or connect with our team – https://bit.ly/dabawebsite
Read Techcrunch article here https://tcrn.ch/3XwgcKg
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