- BuuPass has already made significant strides, selling over 16 million travel tickets
- It has already made significant strides, selling over 16 million travel tickets and generating over $100 million
BuuPass, a digital bus ticketing platform in Kenya has received the much-needed investment from Tim Draper, a global icon in venture capital and a fervent supporter of entrepreneurship and innovation.
This investment marks Draper’s third venture in Africa and signifies a monumental leap toward BuuPass’s vision of becoming a unicorn in the transportation sector.
BuuPass secured this investment from Tim Draper as part of its participation in the Meet the Drapers reality TV show.
Tim Draper is the founder of Draper Associates, DFJ, and the Draper Venture Network. He has funded a remarkable array of successful companies including Coinbase, Baidu, Tesla, Skype, SpaceX, Twitch, and Hotmail, among others.
He is a vocal advocate for Bitcoin and decentralization and has been a pivotal figure in the cryptocurrency space, with investments in over 50 crypto companies.
The strategic investment is coming at a time when more entrepreneurs are pumping billions into tech-relatable ideas with great growth potential.
The funding is also expected to investment will fuel BuuPass’s mission to digitize the $100 billion long-distance transport market in Africa, enhancing its B2B2C.
BuuPass has already made significant strides, selling over 16 million travel tickets and generating over $100 million in GMV, with a presence in East and Southern Africa with routes across more than 15 countries.
Sonia Kabra, co-founder of BuuPass, expressed her excitement about the investment, stating, “Securing investment from Tim Draper is a monumental milestone for BuuPass."
"His belief in our vision and potential is a huge vote of confidence. This partnership brings us closer to our goal of seamless movement of people and goods across Africa, and it’s a significant step towards achieving our dream of becoming a unicorn in the transportation sector.”
Tim Draper on his part says he BuuPass has shown incredible promise in transforming the transportation industry in Africa.
"I am excited to be part of this journey and look forward to seeing BuuPass drive innovation and connectivity across the continent.”
He added that BuuPass is poised for an exciting phase of growth and innovation, with the backing of one of Silicon Valley’s most influential figures.
The company, in a statement, said it is committed to leveraging this investment to expand its reach, enhance its technology, and continue its mission of revolutionizing transportation in Africa.