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Mystifly raises $8m in Pre-Series B Funding

By Leandra Monteiro

March 27, 2023

  • API Banking
  • CSVP Fund
  • Funding
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MystiflySingapore-based Mystifly, a vertical SaaS and marketplace provider for the airline industry announced the conclusion of Pre Series B funding with CSVP (Cornerstone Venture Partners) bringing the total of this round to $8 million combined with earlier investments from RSI Fund I. LLC (a subsidiary of Recruit Co. Ltd.), Jenfi & Crusade Partners among others.

“We are excited to welcome CSVP as an investor alongside our earlier investor RSI, and Jenfi & Crusade Partners as we expand Mystifly’s reach. 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.” said Rajeev Kumar, Founder and CEO of Mystifly. This investment will help speed up the growth of Mystifly’s data and technology capabilities and expand Mystifly’s global footprint, distribution & product offerings.

With this Pre-series B funding, Mystifly plans to extend the market reach of its SaaS products and services. The company is poised for growth and looks forward to delivering even greater value to its customers and partners. The leadership team comprises co-founders Rajeev Kumar and Bharat Goyal.

Nanika Kakkar, Investment Director, CSVP Fund shared, “We have seen technology transformations across multiple sectors in the last decade, but for the travel industry. Today it is ripe for disruption as air travel becomes more pervasive and consumers seek specific personalized solutions. Mystifly is leading this 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 API first, innovative SaaS and marketplace platform for all stakeholders in the travel distribution value chain. It enables Online Travel Agencies (OTAs), and travel intermediaries to access a vast inventory of airfares including Low-Cost Carriers, New Distribution Capabilities and GDSs (Global Distribution Systems) while also offering airlines an alternative distribution and payments reconciliation and settlement platform.

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