TRINITI advised TRAFI team in attracting the largest investment in the market
TRINITI Lithuania team assisted a start-up Trafi, offering a public transport app to assist in journey planning, to secure EUR 5.8 million funding from international and Lithuanian investors. The deal was the largest Series A type investment into a Lithuanian startup.
Investors into one of the most successful Lithuanian start-ups were the European Bank for Reconstruction and Development (EBRD), Octopus Investments, one of the UK’s fastest-growing investment management companies, as well as two local venture capital investors – Baltcap and Practica Capital. For the time being TRAFI app is available not only in Lithuania, but also in Latvia, Estonia, Turkey and Brazil. The additional capital will be used for launching in other markets, scaling the team and developing the technology further.
TRINITI lawyers provided legal advice to TRAFI team on preparing and implementing the structure of the transaction as well as drafting other related documents. The work was led by Linas Sabaliauskas, TRINITI Managing Partner in Lithuania.
TRAFI is a public transport app designed to plan one’s journeys using real-time data, scientific algorithms and machine learning. This app was included into the list of “Best Apps of 2014”, selected by Apple. The combination of scientific algorithms and unique technologic solutions allows customers to have more accurate information on public transport. The company was founded by Mantas Vizbaras, Martynas Gudonavičius and Algimantas Krasauskas in 2013.