Australian Airport transport start-up Jayride raises $8 million
Jayride provides a marketplace for ground transportation services from airports to cities for travellers in Australia, New Zealand, the US, UK and Ireland and serves more than 250 airports.
Airport transportation start-up Jayride has set its sights on becoming the number one player in the US market, having closed an $8 million capital raise led by global venture capital vehicle Follow[The]Seed, ahead of a planned initial public offering.
The company, which provides a marketplace for ground transportation services from airports to cities for travellers in Australia, New Zealand, the US, UK and Ireland, has partnerships with international travel brands including Rome2Rio, Flight Centre, Amadeus, Skyscanner and Expedia.
It will use the funds to increase its efforts in the US, where it has already grown to service more than 250 airports, since it launched in 2015.
Since the Sydney-based start-up expanded to the US in 2015, it has grown to make up more than 50 per cent of its business, and Mr Bishop said that the US and Europe were showing the most opportunities in the immediate future.
Also participating in Jayride's latest $8 million round was established venture capital fund Artesian, crowd-funding platform VentureCrowd and Rimon Group (a consortium of high net-worth individuals and large technology and private equity corporates).
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