By Team Mystifly on Jul 13, 2020 6:00:20 PM
Singapore & Bengaluru based air retailing and payments platform Mystifly last raised Series A in 2016 led by Recruit Co., Ltd, and since then has been focusing on profitable growth with strong fundamentals. Mystifly reported profits in the 11 months of its operations in 2019-20 until COVID impacted the aviation industry in March 2020. The distribution, fullfillment and payments technology marketplace platform offers air fare deals from all the Full-Service Airlines through existing distribution platform partnership, Direct Connectivity & NDC and Low-Cost Airlines Shopping across the globe - All through a single platform. The leadership team comprises of Founder & CEO Rajeev Kumar, CFO Pawan Kesarwani and CTO Bharat Goyal.
(L-R: Rajeev Kumar, CEO | Bharat Goyal, CTO | Pawan Kesarwani, CFO )
The new fund raise is significant with the global aviation industry going through its toughest times. The investment will help Mystifly to continue to strengthen its product and technology, data science & machine learning capabilities & addressing airline payments inefficiency while weathering the COVID19 storm, said the leadership team at Mystifly. The leadership team added that a fund raise amidst the crisis reflects the confidence of our investors on the business and the industry pain point & opportunity Mystifly is solving.
Rajeev added that “The era of airline retailing & efficient payments has begun and the current crisis has made this transition faster than what was anticipated earlier. Airlines will significantly improve their bottom-line by saving on payment costs and becoming new age retailers as they can make more relevant offers, including services with higher margins than just the flight seat price. There is no doubt that Retail Airlines will be the new talk of the town in the coming months, just as how Low Cost Carriers were about 10-15 years back.”
Mystifly offers a full stack API platform to transform and maximize online travel business capability for existing travel businesses and for new age eCommerce and travel intermediaries. The offering includes flights search, retailing booking & fullfillment & payments API platform along with airline connectivity & tools to service any travel/ eCommerce intermediary who wishes to either start an air travel business or expand their air business globally! Mystifly launched the industry first fully automated & guaranteed cancellations and changes product C2 in November 2019 and its new age airline retailing platform ASR1.0 in Feb 2020.
Mystifly was founded in 2009 at Bangalore and is now headquartered in Singapore with a total team of 140 people. The company’s global customers include the best known OTA Brands, Global Loyalty Programs, Travel Management Companies & Meta Search engines.
To learn more about how Mystifly can help you in your air retailing journey, click here.