Superangel participates in the $1.2m investment round to Bangladeshi transport app Jatri
Jatri, a Bangladesh-based public transportation platform, has secured US$1.2 million in its most recent fundraise.
Jatri is rapidly expanding its operations throughout Bangladesh with double-digit month-to-month growth through strategic government and private-sector partnerships.
More funding details:
- Investors: The latest round, termed Pre-Series A, was participated in by Reflect Ventures, Brain-Too-Free Ventures, SBK tech ventures, and prominent global strategic mobility investors. In addition, existing investors, including EstVCA member Superangel, took part in the oversubscribed round.
- Stage: Pre-series A
More company updates:
- Jatri was founded by Arman, Khandokar Taswar Zahin and Zia Uddin in early 2019 with the vision to provide comfortable public transportation in one of the most densely populated countries in the world.
- Since its inception in 2019, Jatri has facilitated 3.5 million transactions for transport tickets with thousands of bus partners in three Bangladesh cities.
- The company says its total transactions saw a double-digit growth on a month-on-month basis, which it attributed to its partnerships in the public and private sectors.
- In order to offer more routes, the company partnered with the government transport cooperation BRTC, which also granted it a ride-sharing license earlier this year that would allow the firm to provide tickets for premium microbuses.
- The company plans to use the fresh funds to fuel its national expansion plans and expand its offerings beyond ticketing and vehicle rentals.
- Last year, Jatri raised an undisclosed amount of seed funding from Dubai-based Falcon Network, Tahseen Consulting, and several angel investors from transport apps such as Bolt, Uber, Bird, Angkas, and Buseet.
Read more about the investment:
Tech In Asia
The Daily Star
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Cover photo: Ahmed Hasan/Unsplash (https://unsplash.com/@carsive); news photo: Jatri