Baring Vostok and Elbrus fuel Busfor with $20m round

The fresh capital will enable the company to expand internationally with a particular focus on the Belarusian and Kazakh markets. It will also invest in marketing activity including a television advertising campaign.

Baring Vostok is currently investing from its sixth fund, a $1.15bn vehicle that held its final close in October 2012. The deal marks the firm's first investment in 2016, though its portfolio company ER Telecom, a provider of consumer broadband and cable TV services, bolted on competitor LLC West Call in August.

Elbrus most recently led a consortium of investors in the RUB 10bn ($159m) acquisition of Russian online recruitment business HeadHunter from Mail.ru Group in February 2016.

Company
Founded in 2012 and headquartered in Moscow, Busfor is an online marketplace for bus tickets. The company makes a 15% commission on all sales and currently operates in the Russian, Polish and Ukrainian markets. It also operates in Thailand under the Tickets brand.

People
Elbrus Capital – Dmitri Krukov (co-managing partner).
Baring Vostok – Elena Ivashentseva (senior partner).
Busfor – Ilya Yekushevsky (co-founder, general director).

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• Topics
• Expansion
• CEE
• Consumer
• Venture
• Russia
• Elbrus Capital