Transreport raises £10m to enable better journeys for all
TL;DR
- Transreport secures a £10m Series A led by Puma VCT, with participation from Pembroke, in their round advised by Mountside Ventures
- Their product, Passenger Assistance, is the world’s first end-to-end transport platform for disabled and older people, enabling them to book and manage assistance when they travel
- Their significant raise in the current market is a testament to Transreport and their mission-critical tech-for-good solution, whose next step will be scaling internationally
- We were thrilled to advise the team and to help enable them to deliver this impactful initiative to even more people around the world — read on to find out more 👇
One in six people are disabled and have reduced mobility — that’s 1.3 billion people around the world and 14 million in the UK alone. 81% of disabled people find it exceptionally difficult to use public transport.
Booking assistance has historically been an uphill battle for anyone with an access need. On average, people spend 35+ minutes organising travel assistance. Add to that — a lack of reliable service and a fear of being abandoned mid-journey at stations or airports — and it’s no surprise that 31% of disabled people report being frequently anxious or depressed merely at the thought of travelling.
In the rail and aviation sectors, the existing system that provides assistance to people with access needs is convoluted. Each request is costly and time-consuming, leading to operational delays and inefficiencies.
Disabled and older people, discouraged by the inefficiencies, often opt not to travel at all. This represents a potential loss in the transport sector, exceeding £500 million in the UK alone. Furthermore, regulatory penalties due to operators’ failures to provide adequate assistance have resulted in £8 million in fines in the UK, and tens of millions in Europe.
Enter, Transreport’s Passenger Assistance Technology:
Transreport’s Passenger Assistance technology is changing the experience that disabled travellers have when booking assistance. Comprising a user-facing app, staff-facing app, and B2B Operator Platform, Passenger Assistance offers a streamlined process for booking travel assistance.
On the Passenger Assistance app, users create a profile detailing their accessibility needs, and can then easily book assistance for any journey. Once booked, the assistance request will be immediately sent to the relevant operators for final confirmation. Staff receive real-time updates, providing them with the passenger access needs ahead of time. Already proven in the UK rail industry, Transreport is expanding its technology to other geographies, including Japan, and to other modes of transport, having already had successful pilots in aviation.
What we love about Transreport:
- Social impact — Beyond commercial success, Transreport has a tangible positive impact on the lives of disabled and older people, enhancing their independence. They have industry-leading panels of disabled users who advocate their technology and vision.
- Proven product — Already a game-changer in the UK rail industry, the platform’s pivot to expand into aviation shows its adaptability and wide-reaching impact.
- Aligned with our values — Transreport aligns innovation with social responsibility, demonstrating what technology can achieve when focused on meaningful change.
At Mountside Ventures, we are passionate about tech-for-good and supporting founders with a vision to not only build global tech businesses, but to also have a positive impact on people’s lives.
Jay Shen, Founder & CEO:
“We are immensely proud to announce this milestone in Transreport’s journey, an investment that marks both a key moment in our growth and a tremendous vote of confidence from our investors, Puma Private Equity and Pembroke VCT.
With this support, we are set to accelerate our expansion into the aviation sector and continue supporting our entry into the Japanese market. Most importantly, these funds will enhance the travel experience for disabled and older people, aligning with our core mission of making transportation universally accessible and comfortable for everyone.”
Mark Lyons, Investment Director, Puma Private Equity:
“We were initially struck by their mission to transform the travel experience for older and disabled people, who have historically encountered challenges to use public transport. Following significant growth, they are now supporting the whole of the UK rail network and we have seen first-hand the significant benefits this is making to users’ everyday lives.
“With the planned expansion into new territories and verticals, Transreport’s cutting-edge accessibility technology will reach a wider global audience whilst simultaneously creating operational efficiencies for the transport operators.
Jonathan Hollis, Mountside Ventures:
“It was a pleasure working with Jay and his team on the raise, especially given what the company is trying to achieve in making transport more accessible. I’m looking forward to watching the company from strength to strength and continue rolling out their products in different modes of transports, and expand in new geographies.
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