Gill Business Systems raises Series A

Gill Business Systems has raised $3 million in a Series A round of financing from InVenture Partners, Intel Capital and FinSight Ventures. Gill Business Systems is a transactional, technology, clearing and e-commerce businesses.

PRESS RELEASE

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: 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. Earlier the Group relied on 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 – However, this industry still utilizes outdated technologies which cannot consolidate the carriers’ inventory and present it to agencies and e-commerce service providers.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”.
“Bus transportation market has one of the lowest technology penetration levels, including the possibility of selling tickets online. We are happy to support Gillbus’ aspiration to change this situation», – says Marchin Hejka, managing director of Intel Capital in EMEA, Russia and the CIS.
Starting from 2012, GillBus system is efficiently working on basic routes in Ukraine with the distribution network 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 business expansion in South-East Asia. The company opened a subsidiary called Transport Systems in Thailand with Maxim Titov as CEO. Distribution of GillBus software products in Russia will begin in the summer of 2014.
“GillBus system, which has been developed for 3 years, solves a key problem of selling online tickets for intercity buses – the most affordable type of intercity public transportation. Currently GillBus helps over 600 bus carriers to sell tickets via online and offline channels, while its distribution network includes over 500 agents. Considering the advanced technologies of Gill Business Systems, we expect the company to become the absolute market leader in Russia, the CIS, as well as in several countries in South-East Asia and Africa», – says Anton Inshutin, managing partner of InVenture Partners.
“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.
* Inventory distribution system (IDS) is an IT system created for storage and distribution of ticket inventory
***
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 the sale of electronic tickets for intercity bus, railroad and air passenger travel. The clients are able to manage their tickets inventory dynamically, to control the tariffs and to utilize extra online and offline ticket distribution channels.
“GillBus-GDS”, the system for distribution, booking and sales of bus tickets from own and third-party inventory systems. Bus stations and ticket offices connected to GillBus system are able to sell tickets for return, connecting and complex routes, as well as tickets of carriers from other regions.
“GillBus-AVIA”, the software platform for charter airlines based on inventory distribution system with additional functionality of keeping record of passengers on the flight. The system has been developed 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.
For additional information please visit www.gillbuss.com
For further information please refer to:
Artem Altukhov
Gill Business Systems
info@gillbuss.com
+7 (499) 653 96 00

About InVenture Partners:
InVenture Partners is an innovative investment fund focused on investing in disruptive consumer technology startups.
Founded in 2012 by Sergey Azatyan and Anton Inshutin, InVenture Partners started with $100M capital. InVenture Partners looks for teams with a novel approach to business models based on disruptive technologies, which help to radically change traditional market segments, to solve real problems of people’s lives and to increase the financial transparency. InVenture Partners backs a wide range of ventures across technology industry with an emphasis on retail, financial and telecom services, online marketing and advertising, tourism and B2B services.
Fund’s portfolio currently includes the taxi booking service GetTaxi, virtual mobile data network operator Fogg, online travel agencies OnlineTours and GetGoing, mobile payments service provider 2Can, online education platform Netology, mobile platform for trade audit CrowdSystems.
For further information please refer to:
Tanya Rylova,
InVenture Partners PR service
pr@inventurepartners.com
+7 926 888 78 45
About Intel Capital

Intel Capital, Intel’s global investment and M&A fund, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11 billion in over 1,351 companies in 55 countries. In that timeframe, 207 portfolio companies have gone public on various exchanges around the world and 349 were acquired or participated in a merger. In 2013, Intel Capital invested US$333 million in 146 investments with approximately 49 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com or follow @Intelcapital.

For additional information please refer to:
Maria Kibkalo
Intel Capital
+7 (962) 989 29 41
Maria.Kibkalo@Intel.com

About FinSight Ventures
Founded in 2013 jointly by Skagit Investments and Finam Investment Holdings, FinSight Ventures fund makes international investments in finance technology startups. Priority areas of FinSight Ventures’ investments are peer-to-peer platforms, payment systems and software solutions for financial market aiming to transform it with new technologies and internet penetration.

For additional information please refer to:

Kristina Rusnak
FinSight Ventures
+7 (495) 276 0777
rusnak@finsightvc.com

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