Busfor

About Busfor

Busfor operates as an online aggregator platform for purchasing intercity and international bus tickets, a venture initiated in 2012 by founders Ilya Ekushevskiy, Artem Altukhov, Sergey Gil, and Elena Khimichenko. Initially launched as GillBus, the company rebranded to Busfor in 2015 to better reflect its core business. The platform addresses the historically fragmented and offline nature of the bus travel market in Eastern Europe, Russia, and the Commonwealth of Independent States (CIS).

The company's business model is centered on providing a digital marketplace that connects passengers with a vast network of bus carriers. Busfor earns revenue by taking a commission of approximately 15% on each ticket sold through its platform. The service provides bus operators with a technology suite that includes a system for managing inventory and a booking system for financial transactions, while customers can search for and purchase tickets via the Busfor website or mobile applications available for both Android and iOS devices. This digital approach aimed to streamline the booking process in a market where, as of 2019, only about 10% of bus tickets were sold online.

Over its operational history, Busfor secured significant funding to fuel its expansion, raising a total of $32.5 million across five rounds from investors such as VNV Global, Intel Capital, Inventure Partners, Baring Vostok, and Elbrus Capital. A key financial milestone was a $20 million Series B round in October 2016. In a strategic move to create a multimodal transport network, the global carpooling platform BlaBlaCar announced its acquisition of Busfor in September 2019, a deal that was finalized in December 2019 after receiving regulatory approval. This acquisition integrated Busfor's extensive network of over 7,000 bus carriers into BlaBlaCar's platform, significantly expanding its service offerings in the region.