Pembroke VCT invests into accessibility technology company Transreport
Pembroke VCT has invested £3 million into Transreport; the UK’s fastest growing accessibility technology company.
The funding round totalling £10 million is led by Puma Private Equity and will enable Transreport to expand the reach of its popular Passenger Assistance technology to more users and wider modes of transport and industries.
Founded in 2016 with a simple vision to democratise transport, Transreport provides the latest technologies to allow transport operators to better understand the needs of their passengers.
The Passenger Assistance technology was launched in May 2021, and has since become one of the most recognised apps for arranging travel assistance. The app has also been nominated for an Apple Design Award, with over 100,000 downloads facilitating millions of passenger journeys to date. The Passenger Assistance app means that passengers are able to request assistance for pre-booked journeys in advance, as well as letting staff know their exact access needs.
Fred Ursell, Investment Director, Pembroke VCT, commented:
“We are delighted to be partnering with Transreport on its journey and are looking forward to witnessing the much-needed transformative impact the business undoubtedly have on the transportation landscape.
What sets Transreport apart is not just its commitment to democratising transport, but the ingenious manner in which they achieve it. Since 2016, Transreport has been at the forefront of innovation, providing transport operators with state-of-the-art mobility technologies that go beyond conventional solutions, setting new benchmarks for accessibility technology.
This investment is testament to our confidence in Transreport’s unique approach and ability to redefine industry standards. We are proud to be part of Transreport’s journey and look forward to working alongside Jay, Waleed and team at this pivotal time of growth.”
Founder and CEO of Transreport, Jay Shen, added:
“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.”