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Masabi offers a Fare Payments-as-a-Service platform, Justride, which provides mobile ticketing, account-based ticketing, and contactless payment solutions for public transportation. This cloud-based system integrates various payment methods, including mobile devices, smart cards, and open payments such as cEMV, to streamline fare collection. The platform is designed to be enterprise-ready and open, enabling robust integrations and flexibility for transit agencies.
The company was founded in 2001 by Ben Whitaker, Ed Howson, and Tom Godber. Their foundational insight centered on modernizing public transport ticketing by moving away from outdated, closed legacy systems. This vision led to the launch of their first mobile ticketing application with Chiltern Railways in the UK in 2007, pioneering a new approach to fare collection in the industry.
Masabi's platform serves transit agencies and operators worldwide, providing scalable solutions that enhance the rider experience. The company’s long-term vision is to transform urban mobility by making public transportation more convenient, equitable, and ultimately the preferred option for all passengers. They aim to foster connected communities and contribute to greener, less congested cities by continuously innovating fare payment systems.
Masabi has raised $55.8M across 7 funding rounds.
Masabi has raised $55.8M in total across 7 funding rounds.
Masabi has raised $55.8M in total across 7 funding rounds.
Masabi's investors include Cota Capital, ISAI, MMC Ventures, Sina Afra, Alvarium Investments, Keolis, m8 Capital, Mastercard, Jean-Pierre Farandou, Jonathan Goodwin, Hany Fam, Simon Menashy.
Masabi is a UK-based technology company specializing in fare payments-as-a-service for public transport, offering cloud-based solutions like mobile ticketing, account-based ticketing (ABT), contactless bank card payments (cEMV), and Mobility-as-a-Service (MaaS) integrations.[1][3][5] Its flagship Justride platform enables commuters to buy and use tickets via mobile apps or bank cards, serving global transit agencies from major cities like London, New York, and Denver to smaller operators, while streamlining fare collection, validation, and management for operators.[1][2][4] With around 180 employees, estimated $37.8M in revenue, and $40.8M–$60.8M raised in funding, Masabi powers over 9.5 million monthly journeys and is on track for $1B+ in annual ticketing sales, replacing legacy systems with flexible SaaS models.[1][2][4]
Founded in 2001 (incorporated 2002) in London, Masabi pioneered mobile ticketing by launching the UK's first such app with Chiltern Railways in 2007, followed by the first US transit deployment in 2012 via Justride for the Massachusetts Bay Transportation Authority (MBTA).[1][4][6] Early traction built on this with ticketless rail systems and expansions to contactless payments, evolving Justride into a multi-modal ABT platform supporting EMV and MaaS.[1][2][6] Key milestones include acquiring Bytemark in 2021 for enhanced contactless tech, raising $2.8M seed in 2013, $12M in 2015 (from Keolis, Mastercard, others), and $20M in 2019 led by Smedvig Capital, fueling global growth across offices in New York, Denver, Cluj, and London.[1][4]
Masabi rides the MaaS and digital payments wave in public transport, capitalizing on post-pandemic demand for contactless, app-based travel amid urbanization and sustainability pushes.[1][2][5] Timing aligns with falling hardware costs and EMV standards, enabling smaller cities to adopt ABT without prohibitive expenses, as highlighted by CEO Brian Zanghi.[2] Market forces like rider expectations for seamless payments (phone/card over paper tickets) and operator needs for data-driven revenue management favor Masabi's open SaaS over rigid vendors.[1][5] It influences the ecosystem by powering integrations with ride-hailing (Uber) and planning apps, placing transit at MaaS core and accelerating shift from siloed systems to unified mobility platforms.[2][4]
Masabi is poised to dominate fare payments amid rising MaaS adoption, with expansions in EMV, multi-modal integrations, and emerging markets driving revenue past $1B annually.[2][4] Trends like AI-optimized pricing, real-time data analytics, and global electrification of transit will amplify its platform, potentially through more acquisitions or PE-backed scale.[1] Its influence may evolve from innovator to standard-setter, as agencies consolidate on flexible SaaS amid legacy upgrades—positioning Masabi as essential infrastructure in smarter, greener urban mobility.[1][5] This builds on its pioneering role, transforming clunky ticketing into effortless travel.
Masabi has raised $55.8M across 7 funding rounds. Most recently, it raised $20.0M Series B in April 2019.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Apr 1, 2019 | $20.0M Series B | Cota Capital, ISAI, MMC Ventures, Sina Afra, Alvarium Investments, Keolis, m8 Capital, Mastercard | |
| Dec 7, 2015 | $12.0M Other Equity | Jean-Pierre Farandou, Jonathan Goodwin, Hany Fam, Simon Menashy | |
| Dec 1, 2015 | $12.0M Venture Round | Cota Capital, ISAI, MMC Ventures, Sina Afra | |
| Mar 20, 2013 | $2.8M Other Equity | Bill Ford, Joseph Kim, Rory Stirling | |
| Mar 1, 2013 | $3.0M Venture Round | Connect Ventures, Cota Capital, Fontinalis Partners, ISAI, MMC Ventures, Sina Afra | |
| Nov 4, 2011 | $4.0M Series B | m8 Capital | |
| Sep 28, 2010 | $2.0M Other Equity | Joseph Kim |
