Vietnamese bus-ticketing platform Vexere bags funding to expand into related sectors

Vietnamese online bus-ticketing and car-booking platform Vexere has raised an undisclosed amount of funding from Woowa Brothers, Ncore Ventures, Access Ventures, and an undisclosed investor.

Photo credit: Vexere

Established in July 2013, the mobility startup helps passengers book bus tickets for its network of more than 550 passenger bus companies, with coverage for over 2,600 domestic and cross-border trips. Vexere also provides management software solutions for fleet operators and ticket distribution software for agents.

It plans to use the new funds to help accelerate the expansion of its business through tech and infrastructure investments and achieve strong growth targets next year.  Specifically, the company said it aims to accelerate product development, expand into related sectors, and continue to focus on the development of its mobile interface.

“A huge opportunity lies ahead as only a small percentage of bus tickets are booked online,” the company said in a statement. “With the recent completion of integrations with major ecommerce marketplaces and mobile payments such as MoMo, ZaloPay, and VNPay, Vexere is prepared for healthy sustained growth for the near future.”

Over the past six years, Vexere claims to have maintained a growth rate of over 300% per year on ticket sales, with 3 million visitors per month on its website. In addition to the investors in this round, the startup previously received funding from companies such as Pix Vine Capital, Spiral Ventures, and BonAngels.

In 2015, it got series A funding from Japan’s CyberAgent Ventures after receiving a small seed fund from the same investor a year before.