JAYRIDE, the online global marketplace for airport transfers, has raised $5 million via an initial $3.2 million placement to new investors announced on 14 November then upscaled with a further $1.8m from existing shareholders.
Rod Bishop (pictured left), its managing director, said the additional funds will be deployed in product and technology as the business continues to scale.
“We will deploy the funds into new technology to enhance the traveller experience, so that travellers keep coming back time and time again,” said Bishop in a statement.
“It is a strong endorsement of our strategy as we continue our rapid growth to serve our travellers globally at scale.
In a mid-year interview with Web in Travel, Bishop spoke of its mission to be the “NDC of ride-hailing” and its focus honed keenly on scaling globally.
Today, Jayride offers airport transfers in more than 100 countries through partnerships with more than 3,400 transport companies. Bookings now exceed 1,000 passenger trips each day, and the new injection of funds should see it taking these numbers further.
Bishop, members of the board including Chairman Andrey Shirben and senior management participated in the capital raise. Thorney Technologies, an online travel industry investor that also backs Webjet, is now a significant investor with just over five percent of the business.
Thorney Chairman Alex Waislitz said Jayride has first mover advantage in the airport transfers niche and a promising future.
“Jayride has identified a global online travel market niche and is building out a worldwide transport network in more than 100 countries,” Waislitz said. “They have good technology and first mover advantage. We believe they have a promising future.”
