True Global Ventures Invests €2.84 Million in BUSUP to Accelerate Global Growth
SAN FRANCISCO and BARCELONA, Spain, May 9, 2025 /PRNewswire/ -- True Global Ventures (TGV), a global venture capital firm backing serial entrepreneurs in AI, blockchain transformative applications, has announced a new investment of €2.84 million (US$3.21 million) in BUSUP, a leading platform for corporate and school shared mobility. This latest commitment comes through TGV's Opportunity Fund (TGV5), reinforcing the firm's long-term support following an initial €1.1 million investment via TGV4.
The investment reflects TGV's strong conviction in BUSUP's ability to scale profitably, driven by its outstanding growth and performance. In 2024, the company recorded 57.5% year-over-year growth, and it is now managing over 700,000 monthly rides.
BUSUP expects to reach €10 million in annual recurring revenues (ARR) in the incoming months and a budget of €48 million in gross merchandise value (GMV) for 2025. The company continues to outperform its forecasts and is now approaching breakeven, thanks to disciplined operations and scalable technology.
The Americas have become a key engine of growth for BUSUP, complementing its solid presence across Europe. The company's success stems from its ability to offer cost-efficient, flexible, and sustainable transportation solutions tailored to large employers and institutions. Its platform simplifies complex mobility needs while significantly reducing environmental impact.
"We are proud to strengthen our partnership with BUSUP at this pivotal moment," said Konrad Wawruch, Founding Partner at True Global Ventures. "Their ability to deliver strong growth while building a sustainable and scalable mobility model is impressive. With this follow-on investment, we are supporting a team that is shaping the future of shared corporate mobility."
"It's a privilege to welcome TGV to Busup. Their approach and unwavering commitment to supporting startups are a true example of how to help companies scale and succeed," said Rui Fernandes, founder of Busup.
BUSUP continues to set the standard for tech-enabled commuting solutions, playing a vital role in the transformation of urban and suburban mobility.
About True Global Ventures
True Global Ventures is a global venture capital firm investing in serial entrepreneurs building category leaders in AI and blockchain. With a focus on scalable, revenue-generating platforms, True Global Ventures has two funds: TGV 4 Plus Fund (early stage) and TGV Opportunity Fund (late stage). The firm focuses on technology-driven businesses like late-stage AI applications, with a strong track record in Enterprise AI and blockchain investments, supporting ventures that drive transformative change.
About BUSUP
Founded in 2016, BUSUP is a leading provider of outsourced corporate mobility services. The company enables companies to optimize their employee mobility, ensuring cost-efficient management and offering a more environmentally sustainable solution. Thanks to its advanced technology and global network of more than 170 local operators, BUSUP is the only provider capable of offering corporate mobility services in Europe, the United States, and Latin America. The company helps its clients reduce transportation costs by up to 40% and carbon emissions associated with business travel by up to 74%.
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SOURCE True Global Ventures (TGV)