FinSight Ventures invests in GillBus

The Group of Companies "Gill Business Systems" (brand Gillbus), developer of inventory distribution system* for passenger bus transportation carriers and online ticket sales, today announced that it has raised $3M in Series A round of financing from InVenture Partners, Intel Capital and FinSight Ventures.

Founded in 2010, Gill Business Systems consists of four ventures: a software development company GBS (Ukraine), distribution and sales companies in Russia (Busfor), Ukraine (E-Travels) and Thailand (Transport Systems). Round A provided the first external investment for Gill Business Systems - prior to this the Group was funded entirely from the founders' contributions. According to Sergii Kremeno, co-founder and CEO of GillBus, the capital raised will be used for geographical expansion in Russia, South-East Asia and Africa as well as further business development in Ukraine.

"The market of intercity bus transportation in Russia is estimated at over $6 bln, in Ukraine – at $3 bln a year, - says Ilya Ekushevskiy, business development and investments director in GillBus and Busfor CEO. - However, this industry still utilizes outdated technologies which cannot consolidate the carriers' inventory and present it to agencies and e-commerce service providers. It leads to poor customer service and lost profits for bus carriers. Our company aims to make purchasing bus e-tickets as smooth as airline tickets".

Starting from 2012, GillBus system has been effectively working on basic routes in Ukraine with a distribution network comprised of over 500 agents. According to E-Travels CEO Olena Khimichenko, demand for GillBus services and volume of transactions on the platform increased 10-fold over two years. In the beginning of 2014, GillBus started expanding its business into South-East Asia, they opened a subsidiary called Transport Systems in Thailand with Maxim Titov as CEO. Distribution of GillBus will begin distributing its software products in Russia starting in the summer of 2014.

"We will actively support GillBus expansion on Latin American and African markets, where other companies with our investments are working. The first country we are looking at is Kenya. We are happy to invest in the company offering innovative technology solutions for its market segment», - says Alexey Garyunov, co-founder and managing director of FinSight Ventures.

About «Gill Business Systems»

The group structure is organized for effective development of transactional, technology and clearing businesses as well as e-commerce. The group consists of highly specialized companies which together create the GillBus infrastructure platform, including:

"GillBus-IDS", the inventory-distribution system for carriers, which allows fordatabase management and for the sale of electronic tickets for intercity bus, rail and air travel. The clients are able to manage their tickets inventory dynamically, allowing them to control the tariffs and to utilize extra online and offline ticket distribution channels.

"GillBus-GDS", the system of distribution, booking and sales of bus tickets from own and third-party inventory systems. Bus stations and ticket offices that are connected to the GillBus system are able to sell round-trip, connecting and complex route tickets, as well as the tickets of carriers from other regions.

"GillBus-AVIA", the software platform for charter airlines based on the inventory distribution system including additional functionality of keeping record of passengers on the flight. The system has been developing from 2012, starting from successful integration with Khors Ukranian airlines, which carries over 500 thousand passengers a year. Currently the system works with eight airlines.

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