The Mastercard and Keolis-backed transport ticketing software provider will use the capital to fuel an international growth drive.

Masabi, the UK-based transport ticketing software developer backed by public transport operator Keolis and payment services firm Mastercard, has received $20m in funding. The capital was provided venture capital firms Smedvig Capital and MMC Ventures in addition to undisclosed existing investors. Founded in 2001, Masabi has developed a mobile ticketing and fare collection platform called…

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