Silicon Valley investor Tim Draper invests in Daba-backed BuuPass
TLDR
- BuuPass, a Kenya-based digital travel platform, secures investment from venture capitalist Tim Draper after previously raising $1.3 million in pre-seed funding with key investors including Daba Finance.
- The startup has sold over 16 million travel tickets, generating $100 million in GMV across East and Southern Africa, aiming to digitize the long-distance transport market.
- BuuPass garnered Draper's investment through Meet the Drapers reality TV show, planning to enhance connectivity between transport companies and online ticketing platforms.
BuuPass, a digital travel ticketing platform based in Kenya, has received an investment from Tim Draper, a renowned venture capitalist. This comes one year after the company raised $1.3 million in pre-seed funding, which saw the participation of Founders Factory Africa, Renew Capital, Ajim Capital, Google Black Founders Fund, and several individual and corporate investors who participated through Daba Finance.
BuuPass secured the investment from Draper by participating in the Meet the Drapers reality TV show. The amount raised has not been disclosed. Before now, the startup had raised $2.5 million since it was founded.
BuuPass has already made significant strides, selling over 16 million travel tickets and generating over $100 million in GMV, with a presence in East and Southern Africa with routes across more than 15 countries. The startup plans to use the investment to double down on its mission to digitize the African long-distance transport market by connecting transport companies with online ticketing platforms.
Points clés à retenir
Tim Draper is the founder of Draper Associates, DFJ, and the Draper Venture Network. He has funded a remarkable array of successful companies including Coinbase, Baidu, Tesla, Skype, SpaceX, Twitch, and Hotmail, among others. The investment marks Draper’s third venture in Africa, reflecting his confidence in the company’s potential to revolutionize Africa’s transportation landscape. The funding also signifies a major leap toward BuuPass’s vision of becoming a unicorn in the transportation sector. It will fuel its mission to digitize the $100 billion long-distance transport market in Africa. In addition, Draper’s expertise and global network will provide BuuPass with unparalleled opportunities for growth and innovation.
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