Masabi produces consumer-facing applications, together with a suite of back-end payment and ticket delivery systems. The company currently serves 17 transportation and retail companies worldwide including Boston's MBTA and San Diego's MTS in the US and Virgin Trains, First Great Western and Cross Country in the UK.

"This is a massive milestone, not just for Masabi but for the whole industry to recognise the consumer demand for mobile as a core ticket sales channel. The past twelve months have seen huge and consistent growth, to the point we are now processing mobile ticketing sales of $85m per year," said Ben Whitaker, CEO of Masabi. "2014 is set to be the year that the sector reaches critical mass as we see existing customers extending services to new routes and modes of transport as well as new deployments around the world."

Masabi's JustRide product is a cloud-based, deployment-proven, rapidly deployable, end-to-end mobile ticketing and fare collection system. It comprises award-winning apps for ticket purchase, display and validation together with back-end infrastructure for secure payments, ticket management, customer service, reporting and real-time analytics. Masabi launched the US' first system-wide deployment of mobile ticketing for Boston's MBTA in late 2012.