Mystifly concluded Pre-Series B funding with Cornerstone Venture Partners (CSVP) bringing the total of this round to $8 million combined with earlier investments. Earlier investors include RSI Fund I. LLC (a subsidiary of Recruit Co. Ltd.), Jenfi & Crusade Partners among others. With this funding, Mystifly plans to extend the market reach of its SaaS products and services as it looks forward to deliver greater value to its customers and partners.
The firm believes that this investment will help in strengthening Mystifly's data and technology capabilities and expand Mystifly's global footprint, distribution & product offerings.
Excited to welcome Mystifly as an investor, Rajeev Kumar, Founder and CEO, Mystifly said: “The pandemic has made us more resilient, and our investment in multi-source search, servicing & payments platform has resulted in a self-onboarding enterprise-level air travel platform for airlines and travel intermediaries. We've rebuilt the digital plumbing lines for airlines & intermediaries, enabling them to adapt to today's e-commerce world."
Nanika Kakkar, Investment Director, CSVP Fund shared: " Mystifly is leading the change and empowering intermediaries to be digital first while also offering enhanced attributes to make consumer's decision-making easier. 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. We truly believe in the potential of the platform and are excited to be on the growth journey with Rajeev and Bharat."
Mystifly’s SaaS and marketplace platform ‘API first’ enables Online Travel Agencies, and travel intermediaries to access a vast inventory of airfares with or without commercial agreements with airlines, including LCCs, NDC (New Distribution Capabilities) and GDSs (Global Distribution Systems) while also offering airlines an alternative distribution and payments reconciliation and settlement platform.