Tenzing taps into smart bus ticketing technology provider, Ticketer
London, 3 October 2018 – UK lower mid-market investor, Tenzing, today announces its investment in Ticketer, the UK’s leading provider of bus ticketing technology.
Since entering the market in 2010, Ticketer has grown to become the UK market leader at the forefront of smart electronic ticketing technology across the bus sector. Ticketer’s software enables passengers to use the latest payments technologies, whilst providing bus operators with real-time performance insights to improve efficiency, service levels and profitability.
Widely renowned as the most innovative provider in the industry, Ticketer’s clients include some of the largest national operators, including First Bus, Arriva, and Go-Ahead, and some 70% of the UK’s regional operators. The company has achieved outstanding revenue growth of over 50% year-on-year over the last three years.
Tenzing has backed the senior management team, led by John Clarfelt and Gordon Montgomery. Together with its Entrepreneurs Panel, Tenzing will support the team’s ambition to grow the business in the UK and internationally.
Guy Gillon, Managing Partner at Tenzing, commented: “We are delighted to be partnering with John, Gordon and the Ticketer team on the next leg of their journey. This business is at the sharp end of the latest technology developments in transport and is a true niche market leader. John and Gordon have exciting plans for the company and we can’t wait to help them to achieve them.”
John Clarfelt, CEO of Ticketer, said: “We have big ambitions for our business and wanted an investment partner who shared our ethos and vision. Our goal is to continue Ticketer’s growth in the UK and to satisfy our clients’ demands by expanding internationally. The Tenzing team and their Entrepreneurs Panel offer the support we were looking for and we’re excited about the journey ahead.”
Tenzing was advised on the investment by KPMG, Osborne Clarke, Fairgrove, Intuitus and Continuum. Ticketer was advised by Silverpeak, Fox Williams and Parisi Tax.
This is Tenzing’s fourth investment from its maiden £200m fund and underlines its commitment to supporting buyouts of high growth, independent market leaders and backing high energy, driven management teams and founders in the UK lower mid-market.