Bus travel booking service ClickBus has received $10 million in funding from a group of investors including Tengelmann Ventures and Rocket Internet.
The round comes as ClickBus launches in Turkey and Pakistan establishing a presence in seven countries on top of Brazil, Mexico, Germany, Poland and Thailand.
Holtzbrinck Ventures and Latin America Internet Group (a joint venture between Rocket Internet and Millicom) also participated in the round.
Brazil-based ClickBus launched a year ago and according to Fernando Prado, c0-chief executive and co-founder, wants to migrate the bus travel world to the internet following the airline example.
Co-founder Cesario Martins adds:
"We are very proud to have secured this new round of funding. This will allow us to continue our growth trajectory in existing markets and advance our technology, especially in the field of M-Commerce, where we will launch apps for iOS and Android shortly. The new round of funding will also allow us to tackle further markets, which are mostly in the offline realm."
The company points to the challenges of selling bus tickets online presented by each market such as that only 5% of bus tickets in Brazil are sold via the web.