Dominic McGregor among backers in £2.3m transport app investment
An app designed to better serve rail passengers with reduced mobility has secured £2.3m in a funding round led by Blackfinch and Praetura Ventures.
Transreport, which has offices in London and Glasgow, has designed an app that allows passengers to alert rail staff to their needs as part of their journey.
Its Passenger Assistance tool is already being trialled by rail operators including West Midlands Railway, Northwestern Railway and Govia Thameslink Railway.
This investment round was led by Reuben Wilcock of Blackfinch and Pete Carway and Louise Chapman of Praetura Ventures.
Andy Sumner, portfolio managing director of Praetura Ventures, will join the Transreport board as a non-executive director.
Blackfinch will have invested a total of £1.3m by tax-year-end, and Praetura Ventures has invested £1m as part of the deal, which includes personal investment from Dominic McGregor, co-founder of Social Chain and one of Praetura Ventures’ venture partners.
The investment will be used to drive expansion bolster marketing for key products. The company also plans to further solidify its multi-modal proposition.
Jay Shen, founder of Transreport, said: “Going forward, there is a strong belief that companies which put people and the planet first, will undoubtedly be more profitable.
“We maintain an ethos of using technology for doing good, and the entire team is greatly looking forward to working with them to help grow Transreport further to maximise its positive impact on as many people as possible.