Trafi raises $6.5m series-A from Octopus and EBRD
Octopus Investments and the European Bank for Reconstruction and Development (EBRD) have led a $6.5m funding round for Lithuanian public transport app Trafi.
With the series-A, Octopus and the EBRD joined Baltic VC BaltCap and seed investor Practica Capital as backers of the company.
The fresh funding will help Trafi launch its services in emerging markets, expand its current team at its Vilnius headquarters, open an office in London and support development of the company's digital infrastructure.
Previous funding
Trafi first raised capital when Practica Capital led a $500,000 seed round in October 2013.
In August the following year, BaltCap followed on with an investment of undisclosed size from the VC's €20m Lithuania SME Fund.
Company
Vilnius-headquartered Trafi is the developer of a journey-planning app for public transport, currently available for several mobile operating systems in Turkey, Lithuania, Latvia, Estonia and Brazil.
The company employs 10 people.
People
Martynas Gudonavicius is the co-founder and CEO of Trafi.
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