Mystifly Secures $8M to Expand Its Airfare SaaS Solution to New Markets

Mystifly Secures $8M to Expand Its Airfare SaaS Solution to New Markets

Mystifly, an air retailing and payments platform based in Singapore and Bengaluru, announced on Thursday the close of its pre-Series B funding round with Cornerstone Venture Partners (CSVP) bringing the total of this round to $8 million combined with earlier investments from RSI Fund I. LLC, Jenfi and Crusade Partners, among others.

The Airfare Marketplace firm empowers over 3000 clients globally and serve over 700 airlines including 180 LCCs, NDCs, and Non-NDC airlines. Its, customers include OTAs, TMCs, travel agencies, loyalty & concierge businesses, wholesalers, and aggregators.

Previously the company raised $3.3 million in a pre-Series B round of funding from existing investor Recruit Co., Ltd. in July 2020. With this recent funding, Mystifly plans to expand the market reach of its software-as-a-service (SaaS) products and services. The company’s leadership team is led by co-founders Rajeev Kumar and Bharat Goyal.

“This investment will help speed up the growth of Mystifly’s data and technology capabilities and expand Mystifly’s global footprint, distribution and product offerings,” said Rajeev Kumar, Founder and CEO of Mystifly. The company was founded in 2009 in Bengaluru and is now headquartered in Singapore. The company offers a full-stack API platform to existing travel businesses and for new-age e-commerce and travel intermediaries.

Nanika Kakkar, Investment Director of CSVP Fund, said, “Through the pandemic, the company built various solutions for multiple stakeholders proving to be an anti-fragile business, well positioned to scale from here on.” The recent funding will allow Mystifly to further enhance its data and technology capabilities, as well as expand its global reach and product offerings.

Mystifly Simplifies Airline Distribution with Comprehensive B2B API SaaS Platform

Mystifly suite of solutions seamlessly integrates and simplifies the intricate and fragmented airline distribution, fulfilment, and payments ecosystem. Its B2B API SaaS platform covers a wide range of features, including airline search and retailing, order management, revenue and channel management, ancillary sales, multi-currency payment wallet, and post-booking management.

By converging the world’s airlines into a Single Normalised API, Mystifly offers a unified and streamlined approach to airline distribution, making it easier for travel intermediaries and e-commerce platforms to connect with airlines and manage the entire booking process seamlessly. This comprehensive platform is designed to meet the needs of existing travel businesses and new-age e-commerce and travel intermediaries.