InVenture et al. invest $3m in Gillbus

Ellie Pullen
10 June 2014

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InVenture Partners, Intel Capital and FinSight Ventures have invested $3m in the series-A funding round of Ukrainian bus ticket platform developer Gill Business Systems, known as Gillbus.

The fresh capital will allow Gillbus to pursue expansion in Russia, south-east Asia and Africa, with an initial focus on entering the market in Kenya. The company will also further develop its operations in Ukraine.

According to the company, intercity bus transportation is an estimated $6bn market in Russia and $3bn market in Ukraine.

Company
Founded in 2010, Gillbus is headquartered in Kiev with additional offices in Moscow and Bangkok. The company has developed a software system for the online distribution of bus tickets.

The company comprises four divisions: software developer GBS in Ukraine and three distribution and sales units: Busfor in Russia, E-Travels in Ukraine and Transport Systems in Thailand.

The company's IDS product is an inventory distribution system for customers designed to provide database management and the sale and distribution of e-tickets for intercity buses, flights and trains.

Its GDS product allows bus stations and ticket offices to connect to the Gillbus product for the sale of tickets. The company's Avia product is a software platform for charter airlines, currently operational for eight airlines.

People
Sergii Kremeno is the CEO of Gillbus. Marcin Hejka is the managing director at Intel for EMEA, Russia and CIS. Anton Inshutin is a managing partner at InVenture. Alexey Garyunov is a co-founder and managing director at FinSight.