Kenyan bus ticketing platform, BuuPass, received a much-needed investment from venture capitalism legend Tim Draper. This marks Draper’s third investment in Africa and is a significant boost for BuuPass’s dream of becoming a major player in the transportation industry. BuuPass secured the funding through their participation in Draper’s reality TV show, Meet the Drapers.
Draper is known for his successful investments in companies like Tesla, Skype, and SpaceX. He’s also a big believer in cryptocurrency and has backed numerous crypto startups. This investment aligns with a growing trend of investors pouring money into promising tech ventures.
The funding will be used to fuel BuuPass’s mission of digitizing Africa’s massive long-distance bus market, currently valued at $100 billion. BuuPass has already sold over 16 million tickets and generated over $100 million in revenue, operating in over 15 countries across East and Southern Africa.
Sonia Kabra, co-founder of BuuPass, is thrilled with the investment, calling it a “monumental milestone.” She believes Draper’s confidence in their vision validates their potential and brings them closer to their goal of seamless movement of people and goods across Africa. Ultimately, this partnership is a major step towards their dream of becoming a leader in the transportation sector.
Tim Draper is equally excited, recognizing BuuPass’s potential to transform African transportation. He’s eager to be part of their journey and witness them drive innovation and connectivity across the continent. With backing from such a prominent Silicon Valley figure, BuuPass is poised for a period of significant growth and groundbreaking advancements.
BuuPass, in an official statement, expressed their commitment to using this investment to expand their reach, improve their technology, and stay true to their mission of revolutionizing African transportation.
Source: The Star