Through Daba’s unified investment platform, institutional and retail investors supported BuuPass’ mission of digitizing the mobility sector in Africa.
BuuPass, a digital travel ticketing platform based in Kenya, has received an investment from Tim Draper, a renowned venture capitalist.
This comes one year after the company raised $1.3 million in pre-seed funding, which saw the participation of Founders Factory Africa, Renew Capital, Ajim Capital, Google Black Founders Fund, and several individual and corporate investors who participated through Daba Finance.
BuuPass secured the investment from Draper by participating in the Meet the Drapers reality TV show. The amount raised has not been disclosed. Before now, the startup had raised $2.5 million since it was founded.
Who is Tim Draper?
Tim Draper is the founder of Draper Associates, DFJ, and the Draper Venture Network. He has funded a remarkable array of successful companies including Coinbase, Baidu, Tesla, Skype, SpaceX, Twitch, and Hotmail, among others.
A prominent advocate for Bitcoin and decentralization, Draper has been a pivotal figure in the cryptocurrency space, with investments in over 50 crypto companies.
His accolades include being named “Entrepreneur of the World” by the World Entrepreneurship Forum and ranking among the top 100 most powerful people in finance by Worth Magazine.
What this means for investors in BuuPass
The investment marks Draper’s third venture in Africa, reflecting his confidence in the company’s potential to revolutionize Africa’s transportation landscape.
The funding also signifies a major leap toward BuuPass’s vision of becoming a unicorn in the transportation sector. It will fuel its mission to digitize the $100 billion long-distance transport market in Africa.
In addition, Draper’s expertise and global network will provide BuuPass with unparalleled opportunities for growth and innovation.
Digitizing Africa’s mobility sector
BuuPass is a B2B2C full-stack marketplace that connects transport companies with online ticketing platforms.
BuuPass has already made significant strides, selling over 16 million travel tickets and generating over $100 million in GMV, with a presence in East and Southern Africa with routes across more than 15 countries.
The startup plans to use the investment to double down on its mission to digitize the African long-distance transport market by connecting transport companies with online ticketing platforms.
“Incredible Promise”
“BuuPass has shown incredible promise in transforming the transportation industry in Africa,” Tim Draper said on the startup. “I am excited to be part of this journey and look forward to seeing BuuPass drive innovation and connectivity across the continent.”
Sonia Kabra, co-founder of BuuPass, expressed her excitement about the investment: “Securing investment from Tim Draper is a monumental milestone for BuuPass. His belief in our vision and potential is a huge vote of confidence.
“This partnership brings us closer to our goal of seamless movement of people and goods across Africa, and it’s a significant step towards achieving our dream of becoming a unicorn in the transportation sector.”
Daba Finance is proud to have enabled investor participation in BuuPass’ journey and we look forward to following its growth and success. To find more about how Daba enables investing in Africa opportunities for individual and institutional investors, visit our webpage or get our mobile app.
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