Haystack Asia acquires 25% stake in Camboticket

Haystack Asia Capital Limited has acquired 25% stake in Camboticket, the foremost online booking platform for buses, ferries and taxis in Cambodia, Laos, Thailand and Vietnam. Camboticket was founded in 2014 with a singular mission to revolutionize Cambodia's inefficient counter booking system and bring its booming travel into the new age of online booking. Popular with local and tourists, Camboticket now covers more tha 150 routes across the four countries and has partnered with leading tour operators. Haystack will bring strategic value with their experience and other investments in consumer tech and tourism space, said co-founder and CEO of Camboticket Shivam Tripathi. Camboticket also provides market-leading technology solutions to its transportation partners, including software-as-a-service (SaaS)--also known as a cloud-based software--which helps partners manage their business and more efficiently distribute their seat inventory. Haystack Asia, an arm of The Haystack Fund based in Canada, was launched in March with more than $2mn to invest in digital ventures in Cambodia. Haystack Asia also operates Haystack Labs, a service design agency and startup incubator based in Phnom Penh. (Source: Khmer Times)