Puma Private Equity leads £10m funding round for Transreport, the UK’s fastest-growing accessibility technology company
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Puma Private Equity has led a £10 million investment round into Transreport, the UK’s fastest-growing accessibility technology company. The investment will support the growth of its popular Passenger Assistance technology app as it seeks to expand the reach of the system to more users and wider modes of transport and industries.
The funding, with participation from Pembroke VCT, will enable Transreport to further connect its Passenger Assistance technology to anyone who needs assistance whilst travelling, facilitating quicker and easier use of public transport. The investment will also continue the company’s expansion into the aviation sector.
Since its launch in May 2021, the Passenger Assistance technology, nominated for an Apple Design Award in the Inclusivity Category, has become one of the most recognised apps for arranging travel assistance with over 100,000 downloads facilitating millions of passenger journeys to date.
In a sign of the company’s ambition, Transreport is already collaborating with key organisations in public transportation sectors to improve travel accessibility for more disabled and older people throughout the UK and internationally. Including a successful partnership with leading Japanese rail operator Hankyu Corporation.
This funding announcement is the latest in a series of notable successes for Transreport, including growing its user base significantly and securing successful partnerships with the Rail Delivery Group in the UK.
Transreport is also gaining the attention of industry professionals and policymakers. In June 2023, the British government and Hankyu invited Transreport’s founder and CEO Jay Shen to the G7 summit in Japan where he met global leaders, including Prime Minister Rishi Sunak.
“This significant investment marks a key moment in the growth and history of Transreport and is a huge vote of confidence and trust from our investors, Puma Private Equity and Pembroke VCT, in our vision and ability to execute on our strategic plans.
“These funds will accelerate our expansion into the aviation sector and continue supporting our entry into the Japanese market in partnership with Hankyu Corporation, Japan’s world-leading railway operator and most importantly provide a better experience for disabled and older people.”
Jay Shen, Founder and CEO of Transreport “We have known Jay, Waleed and the Transreport team for several years now and are thrilled to be backing them on their next stage of growth. We were initially struck by their mission to transform the travel experience for older and disabled people, who have historically struggled 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 user’s everyday lives. Our investment highlights the strength of our belief in the Transreport team and its mission.
“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.”
Mark Lyons, Investment Director at Puma Growth Partners “Transreport is proud to have demonstrated its ability to innovate and positively impact the transportation sector. We are grateful to Puma Private Equity and Pembroke for coming on a journey with us in our next business chapter to expand the offering of world-leading accessibility technology solutions into the aviation and rail sectors that improve passenger experiences and streamline operations.
“Alongside expansion, another key priority for Transreport is to invest in talent acquisition and research and development for the firm to recruit the best and brightest minds to create an unrivalled accessibility technology for anyone requiring assistance when travelling. Transreport will also continually refine the technology that goes into the Passenger Assistance app to enhance the passenger experience of its users.”
Waleed Ahmed, Chief Operating Officer of Transreport Puma Private Equity facilitates growth capital and provides expertise to best-in-class, ambitious businesses across the UK, irrespective of sector, and works in partnership with management to help businesses scale and create long-term value. It aims to deliver insight, expertise, and a fresh perspective to the portfolio companies it partners with. Having invested in and worked with many organisations across a breadth of sectors, Puma Private Equity has deep insights and experience in scaling businesses for growth and where desired, successful sale and exit.
Puma Private Equity’s advisers to the round include Charles Russell Speechlys, Cortus Transaction Services, Douglas Squirrel, Claritas Tax and Shoosmiths. Mountside Ventures and Stephenson Harwood advised Transreport on the round.
