Transferz Raises $7M to Streamline Pre-Booked Ground Transportation

Transferz has raised 6.5 million euros (about $7 million) to expand its B2B mobility platform for pre-booked ground transportation.

The company’s platform connects travel brands and local transfer companies to facilitate ground transportation service to and from airports, seaports and train stations. It will soon add point-to-point destinations as well, Transferz said in a Wednesday (Feb. 15) press release.

“This new funding round will allow us to further invest in our technology and to expand our offerings on the Transferz tech platform, with a wider range of ground transportation options in addition to private transfers,” Transferz CEO Johan van Vulpen said in the release.

The company focuses on private transfer booking services for B2B clients, providing fully automated solutions. It offers application programming interfaces (APIs) that integrate its technology into travel brands’ booking flow as well as a portal for use by travel agents, according to the release.

Transferz will use the new capital to expand its solutions into more transportation verticals. It recently added shared shuttles and is looking to add public transport and rental cars, the release said.

The firm will also continue its growth around the world and its addition of new clients. Its platform is already used by several global travel companies focused on both leisure and corporate travel, per the release.

PYMNTS research has found that the keys to streamlining current inefficiencies in the travel and tourism sectors include breaking down cross-border barriers, reducing costs and building future-proof payment operations that can position firms for long-term success on the international stage.

New solutions are much needed at a time when six in 10 travel and tourism businesses say B2B payouts are a pain point — with 43% saying they are a somewhat significant pain point and another 20% saying they are a very or extremely significant pain point — according to the “Smart Receivables Playbook,” a PYMNTS and Flywire collaboration.

Transferz’ funding round also comes at a time when corporate travel volume has recovered to 75% of pre-pandemic levels.

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