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Birmingham Post
Birmingham Post
Technology
Jon Robinson

Investors help Trainline rival Seatfrog raise £6m to help create jobs

A rail ticketing app that is hoping to take on the likes of Trainline has raised an extra £6m.

Seatfrog has secured the backing from the likes of Manchester-based Praetura Ventures as well as Pembroke Investment Managers LLP and Octopus Ventures.

The extra funding will allow the company to create new jobs.

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Seatfrog was launched in 2018 and has deals with 16 train operators.

Co-founder and CEO Iain Griffin said: "Our mission is to be the platform of choice for rail, helping people fall in love with taking the train again, and enabling operators to run more profitable networks full of happier, less stressed passengers - it’s long overdue.

"Today’s investment marks the latest milestone on our journey but it’s by no means our final destination. With the launch of our Train Swap feature across the UK and our expansion into new European markets, we are unleashing a new platform that helps passengers get an unrivalled experience and operators run more efficient networks well beyond the capabilities of legacy technology."

Fred Ursell, investment director at Pembroke Investment Managers LLP, added: "Over half of UK rail passengers are unhappy with value for money, largely due to the European rail sector being starved of innovation.

"When we met Iain and Dirk, their vision and passion to transform the customer experience for travellers whilst providing a ‘win-win’ business model for train operators became immediately clear.

"The disruptive business model, product market fit and large market combined with a world-class team, meant Seatfrog had all the hallmarks of a Pembroke deal.

"We are delighted to be supporting Seatfrog as it expands its product range, deepens relationships with customers and grows its geographical presence."

David Foreman, managing partner of Praetura Ventures, said: "Many of our team used Seatfrog long before we spoke to them about this investment.

"As fans ourselves, we can see that the Seatfrog proposition is clearly loved by its users as shown by their thousands of industry-leading reviews.

"They’ve got a fantastic team with a great product and global potential. We’re incredibly excited to be backing Iain and Dirk in their next stage of growth with our 'more than money' support."

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