Travel tech startup Volubus is on course to raise up to € 1 million (SEK 10 million), with half already secured from existing investors. The startup, which offers a platform for booking private buses, plans to use the funds to further automate and scale its service using AI technology.
By modernizing an outdated industry and creating a seamless, digital experience akin to Uber’s transformation of ride-hailing, Volubus CEO and co-founder Måns Rüder believes the company can become a billion-business within the next five to seven years. Måns knows what he is speaking of–he has previously worked at Blacklane in Berlin, a global limousine booking platform, that has raised over € 100 million.
Volubus is already active in over 200 cities across 20 countries, providing a fast and efficient service that allows companies and individuals to book buses easily.
Volubus, which operates from offices in Malmö and Krakow, is in the midst of a new funding round. Half of the targeted investment been secured from current shareholders, with the remainder expected from new investors. The startup counts real estate developer Lennart Sten—newly appointed chairman of SBB—and Wilhelm Pettersson of Skabholmen Invest among its early backers. The company was valued at € 8 million (SEK 90 million) prior to the current capital raise. With this funding, Volubus aims to accelerate the development of its AI-powered booking system, enhancing its ability to deliver an even more efficient service.
“The process of booking a charter bus today is time-consuming and inefficient—often taking over 90 minutes to search for operators, request quotes, and handle cumbersome payments. The charter bus market suffers from a lack of transparency and outdated technology, leading to major inefficiencies,”
says Måns Rüder.
Volubus’ AI solution will simplify the process for both bus operators and customers. By entering details such as destination, date, and time, users can see all available buses, prices, and complete their booking and payment directly through the platform—reducing the entire process to just three minutes.
“There’s currently no other provider that offers a fully automated, end-to-end booking solution online. That’s where we’re unique. By offering vetted, quality-assured buses at competitive prices, we can often save customers 20 to 40 percent,”
says Måns
While most people have booked or ridden in a taxi, booking a bus for a large group—whether for trips, events, or special occasions—is less common. Yet, the market is significant. The private European bus market is valued at € 6.6 billion, and globally, the market is worth over € 25 billion. By mid-2024, Volubus expects to have completed over 10,000 transfers, serving roughly 100,000 passengers.
“We hear stories of groups of over 50 people having to book ten separate taxis for a wedding, which ends up being more expensive and environmentally harmful. By increasing the use of charter buses as alternatives to flights, cars, and trains, we can significantly reduce the carbon footprint of travel,”
Måns adds
The company has gone from almost no revenue to 2022 have a revenue of almost € 1 million, and dubbling that revenue last year. This year, Volubus is on track to hit € 2.6 million (SEK 30 million) in revenue.
“We believe that with its experienced team, which has already proven its success, Volubus is poised to continue its rapid expansion and significantly scale its growth over the coming years with the help of this new funding,”
says Wilhelm Pettersson, CEO of Skabholmen Invest.
