Easybook.com completes USD5M Series-C Fundraise led by Emissary Capital
KUALA LUMPUR, MALAYSIA - Media OutReach - 15 July 2021 - Easybook.com (Easybook) - Southeast Asia's leading long-range mobility software provider has just completed a Series-C funding round led by investment firm Emissary Capital (Emissary). The round equaling a total of USD5M features a combination of both new and vendor shares, and will be utilized to bolster Easybook's already significant presence across the region.
Easybook.com is Southeast Asia's leading long-range mobility software provider. The business provides ticketing and route management software solutions to bus, train and ferry operators across the region. Operating in Malaysia, Singapore, Indonesia, Vietnam, Myanmar, Cambodia, Laos and Brunei. Easybook currently manages a staggering USD1.6B worth of regional long-range travel inventory in an industry estimated to be worth north of USD11B a year, giving the business a strong market presence and significant room for growth.
The new capital will be utilized to expand the company's inventory as well as drive revenue through additional monetization strategies. The business will continue its efforts to add to its suite of software solutions including additional functionality in the bus/ferry terminal management space. Easybook will also be making key structural changes to the business by moving its HQ to Malaysia to drive more operational efficiency.
Key pillar to the region's economy
Long-range travel is a key pillar to the region's economy. Far too often investors' attention is focused on air-travel, but for the vast bulk of people, air-travel comes second to buses, trains and ferries. This is especially true for archipelago nations like Indonesia and the Philippines with still developing airport infrastructure. Land and sea travel are industries that have been built on small- to mid-sized operators that don't have the scale to develop highly integrated software themselves. Easybook is the clear solution for these operators, providing them with an advanced suite of functions. Of the regions estimated 5,000 route operators, the company already services over 1,200 of them. Through these efforts Easybook is focused on digitizing an industry that is the sleeping giant of the region, bringing efficiency to the grassroots of how people travel across Southeast Asia.
Managing Director of Easybook, William Lee said: "We are very happy with the completion of this funding round. The capital from this investment will go a long way in expanding our presence and growing our inventory. This will be key as we line up for an IPO in the coming years. Having a partner like Emissary that brings operational value to the table is what attracted us to the deal. Many investors talk about adding value but there is little substance behind those words. With the Emissary team we felt that was different, they have already begun adding a number of high profile people to the management team"
Erman Akinci – Managing Partner at Emissary stated, "We are very excited about this investment. We have been impressed with what William and the Easybook team have done over the past several years. They have secured what we feel is one of the region's most valuable travel assets. This deal allows us to get in on an amazing business that has been unfairly affected by COVID-19 and is expected to rebound swiftly as travel restrictions are lifted through 2021 and 2022."
Easybook plans to utilise the USD5M raised to drive more growth into the business. This will be done by expanding its inventory and developing monetization strategies for the assets that it currently controls. This will be done to move the company towards an IPO in the next 24 to 36 months.
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