Masabi Ltd. is a British technology company that develops and markets fare collection services for

public transport Public transport (also known as public transit, mass transit, or simply transit) are forms of transport available to the general public. It typically uses a fixed schedule, route and charges a fixed fare. There is no rigid definition of whic ...

systems. The company offers

mobile ticketing Mobile ticketing is the process whereby customers order, pay for, obtain, and validate tickets using mobile phones. A mobile ticket contains a verification unique to the holder's phone. Mobile tickets reduce the production and distribution costs a ...

apps,

smart card A smart card (SC), chip card, or integrated circuit card (ICC or IC card), is a card used to control access to a resource. It is typically a plastic credit card-sized card with an Embedded system, embedded integrated circuit (IC) chip. Many smart ...

s, and other fare media for electronic fare collection, allowing users to buy tickets by app, on the web, at kiosks, and retail locations, and allowing tickets to be read by an electronic reader or scanned by a rail

conductor Conductor or conduction may refer to: Biology and medicine * Bone conduction, the conduction of sound to the inner ear * Conduction aphasia, a language disorder Mathematics * Conductor (ring theory) * Conductor of an abelian variety * Cond ...

by mobile phone.

Services

The company's customers include

public transit Public transport (also known as public transit, mass transit, or simply transit) are forms of transport available to the general public. It typically uses a fixed schedule, route and charges a fixed fare. There is no rigid definition of wh ...

authorities in

Calgary Calgary () is a major city in the Canadian province of Alberta. As of 2021, the city proper had a population of 1,306,784 and a metropolitan population of 1,481,806 making it the third-largest city and fifth-largest metropolitan area in C ...

Boston Boston is the capital and most populous city in the Commonwealth (U.S. state), Commonwealth of Massachusetts in the United States. The city serves as the cultural and Financial centre, financial center of New England, a region of the Northeas ...

, London,

Athens Athens ( ) is the Capital city, capital and List of cities and towns in Greece, largest city of Greece. A significant coastal urban area in the Mediterranean, Athens is also the capital of the Attica (region), Attica region and is the southe ...

Rome Rome (Italian language, Italian and , ) is the capital city and most populated (municipality) of Italy. It is also the administrative centre of the Lazio Regions of Italy, region and of the Metropolitan City of Rome. A special named with 2, ...

Madrid Madrid ( ; ) is the capital and List of largest cities in Spain, most populous municipality of Spain. It has almost 3.5 million inhabitants and a Madrid metropolitan area, metropolitan area population of approximately 7 million. It i ...

Adelaide Adelaide ( , ; ) is the list of Australian capital cities, capital and most populous city of South Australia, as well as the list of cities in Australia by population, fifth-most populous city in Australia. The name "Adelaide" may refer to ei ...

New York New York most commonly refers to: * New York (state), a state in the northeastern United States * New York City, the most populous city in the United States, located in the state of New York New York may also refer to: Places United Kingdom * ...

Las Vegas Las Vegas, colloquially referred to as Vegas, is the most populous city in the U.S. state of Nevada and the county seat of Clark County. The Las Vegas Valley metropolitan area is the largest within the greater Mojave Desert, and second-l ...

Los Angeles Los Angeles, often referred to by its initials L.A., is the List of municipalities in California, most populous city in the U.S. state of California, and the commercial, Financial District, Los Angeles, financial, and Culture of Los Angeles, ...

Denver Denver ( ) is a List of municipalities in Colorado#Consolidated city and county, consolidated city and county, the List of capitals in the United States, capital and List of municipalities in Colorado, most populous city of the U.S. state of ...

Ohio Ohio ( ) is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. It borders Lake Erie to the north, Pennsylvania to the east, West Virginia to the southeast, Kentucky to the southwest, Indiana to the ...

and Japan. In 2012, the company launched the first ticketless rail system in the United States, for the

Massachusetts Bay Transportation Authority The Massachusetts Bay Transportation Authority (abbreviated MBTA and known colloquially as "the T") is the public agency responsible for operating most public transportation services in Greater Boston, Massachusetts. The MBTA transit network in ...

. In January 2019

Uber Uber Technologies, Inc. is an American multinational transportation company that provides Ridesharing company, ride-hailing services, courier services, food delivery, and freight transport. It is headquartered in San Francisco, California, a ...

announced that its "transit offering" had gone live in Denver with RTD, with in-app ticketing provided by Masabi using its Justride SDK. In April 2019, the company reported that it was on track to exceed

US$ The United States dollar (Currency symbol, symbol: Dollar sign, $; ISO 4217, currency code: USD) is the official currency of the United States and International use of the U.S. dollar, several other countries. The Coinage Act of 1792 introdu ...

1 billion in annual ticketing sales in the next year.Venturebeat:
Masabi raises $20 million for mobile ticketing tools
, 30 April 2019 It is currently located in offices in

Tech City East London Tech City (also known as Tech City and Silicon Roundabout) is a technology cluster of high-tech companies located in East London, United Kingdom. Its main area lies broadly between St Luke's and Hackney Road, with an accelerator sp ...

, London and in New York and Boston in the USA. In 2020, Masabi's Justride SDK was recognized as Ticketing Technology of the Year at the Transport Ticketing Global Awards 2020.

Funding

The company was founded in 2001 and raised seed funding of $2.8 million in 2013. In December 2015, the company raised $12 million in

venture capital Venture capital (VC) is a form of private equity financing provided by firms or funds to start-up company, startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in ...

from an investor group including the public transport operator

Keolis Keolis is a French transportation company that operates public transport systems all over the world. It manages bus, rapid transit, tram, coach networks, rental bikes, car parks, water taxi, cable car, trolleybus, and funicular services. B ...

, MasterCard, Lepe Partners and existing investor MMC Ventures. A further $20 million was raised in April 2019, led by Smedvig Capital, with participation from MMC Ventures and other investors.

References

External links

*{{official website, www.masabi.com Travel technology Technology companies based in London Technology companies established in 2001 British companies established in 2001 2001 establishments in England