Mystifly, a specialist in airline retailing technology and payments, has raised US3.3 million in a pre‐Series B funding round.
The company says the investment comes on top of running as a profitable business in the months up to the outbreak of Covid-19.
Recruit Co, which last invested in a Series A round for Mystifly in 2016, also led this latest investment.
According to a statement, the company will use the funds to strengthen its data science and machine learning capabilities.
Rajeev Kumar, founder and CEO of Mystifly said: “The era of airline retailing and efficient payments has begun and the current crisis has made this transition faster than what was anticipated earlier.
"Airlines will significantly improve their bottom‐line by saving on payment costs and becoming new age retailers as they can make more relevant offers, including services with higher margins than just the flight seat price.”
The company, which was founded in Bengaluru, India, in 2009 and now has its headquarters in Singapore, unveiled its Airline Shopping and Retailing Hub technology in February.