Online ticketing startup Abhibus crosses ₹700 cr in annual gross merchandise

Source: Google

Abhibus, a Hyderabad-based online bus ticketing platform, has surpassed ₹700 crore in annual gross merchandise value (GMV) for the financial year ended March 2019.

“We have close to 5.5 million downloads of the Abhibus mobile app, and we do about a million transaction a month on our platform and have closed in around 35 crore transactions to date. Around 80% of those transactions are on mobile,” said Sudhakar Reddy, chief executive of Abhibus.

Abhibus was founded by Sudhakar Reddy in 2008. The platform provides online bus booking & cancellation facility to individual travelers.

Reddy further said that the company is growing 40 per cent year-on-year in term of total GMV, and the company plans to achieve 1,000 crore GMV by the end of FY20.

He also said that to meet the target, the company is on track to launch train ticket booking on its platform within the next two months.

Furthermore, till date, Abhibus has raised more than 30 crore in funding from undisclosed high-net-worth individuals (HNIs).

Apart from Abhibus, other startups, providing similar services include MakeMyTrip, RedBus, Travelyaari, TicketGoose, Trabol, and many more down the line.

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