Bus365 Completed Round B Financing

Beijing Shengwei Times Technology Co., Ltd. (hereinafter referred to as “Bus365”), the largest inter-city highway travel comprehensive service platform in China, announced that it has completed the round B financing totaling hundreds of millions yuan in recent days. The leading investor was SBCVC and Alitrip (Fliggy). The other investors were Hongxin Tianshi Investment, Springs Capital and Guokai Technology Venture Investment.

In the era of mobile Internet, compared with passenger travel modes such as travelling by airplanes and high-speed rails, traditional highway passenger transportation has a stronger demand for Internet transformation and informatization enhancement. Bus365 focuses on the development opportunities and market potential of this segment, and actively engages in the construction and operation of the online ticketing system for national highway passenger transportation. Since its establishment in 2012, the company has achieved rapid growth through comprehensive ticketing system, rich data operation experience and complete smart travel solution. Currently, it has covered more than 20 provinces, municipalities and autonomous regions. Its wide ticket source coverage, seamless connection service and transaction service make travel more convenient.

As for the following development, Jiang Shengxi, Founder of Bus365 said: “With the development of social economy and the diversification of public demands, the transformation and upgrading of the highway passenger transportation is imminent. After the round B financing, Bus365 will coordinate industry resources and industrial capital and empower the highway passenger transportation industry with the mode of 'Technology Cloudization + Big Data', in order to accelerate business layout, upgrade the online ticketing platform to a comprehensive travel service platform, and improve the overall travel system solution. At the same time, Bus365 will become an innovative one-stop comprehensive travel service provider that fully meets the needs of the travelers and covers the services of smart travel of highway passenger transportation, new mode of customized passenger transportation and new business pattern of integration of transportation and tourism.

On behalf of SBCVC, the lead investor of this financing, Dr. Anlan Song, Managing Partner of SBCVC, said: “Highway passenger transportation is a major means of travel whether in the present or in the future. In China, this is a huge offline market, but also a traditional field with relatively low level of informatization. Bus365 is building an online ticketing system for nationwide highway passenger transportation, and its service scope will be further expanded, which will not only greatly enhance the experience in service of intercity travel, but also provide a powerful tool for traditional highway passenger transportation enterprises to improve efficiency, transform and upgrade. With the deepening of the domestic ongoing consumption upgrade, we believe that travel services have a very broad market prospect. We hope that Bus365 will provide the domestic travelers with more valuable services."

Li Chen, Manager of transportation business of Alitrip (Fliggy), which has made multi-round investment in Bus365, said that Bus365 has become an important strategic partner of Alitrip (Fliggy) in the highway passenger transportation industry. Through the capital cooperation with Bus365, the two sides have mutually shared big data resources and information services, and made efforts to update and optimize the infrastructure system. At present, with the support of Alitrip (Fliggy), the comprehensive highway travel service platform built by Bus365 has covered most provinces, municipalities and autonomous regions in China, providing online ticketing service that directly connects to the station system, online ticket purchase service, self-help ticketing terminal service, as well as related highway passenger transportation information release service. "We firmly believe that with the deepening of cooperation this time, both parties will continue to work together to further explore the passenger transport market and accelerate the market layout and digital platform construction for highway travel.”