BusforraisesUSD20million

Online bus ticketing platform Busfor has announced a USD 20 million fundraising round and has earmarked to cash to strengthen its dominant position in Russia and Eastern Europe and to expand into new markets.

It says that the long distance bus market is worth USD 50 billion in Europe and southeast Asia alone.

The business was founded in 2012 and operates in Russia and across Eastern Europe. It also has operations in Thailand.

It provides technology for bus operators to sell their tickets to consumers via Busfor and has 5,000 bus suppliers on its books. It handles around two million customer bookings a month.