True Global Ventures Invests €2.84 Million in BUSUP for Global Growth Expansion

True Global Ventures Invests €2.84 Million in BUSUP

On May 9, 2025, True Global Ventures (TGV), a distinguished global venture capital firm known for backing visionary entrepreneurs in AI and blockchain, announced its strategic investment of €2.84 million (approximately $3.21 million) in BUSUP. This latest funding round was conducted through TGV's Opportunity Fund, known as TGV5, and represents a follow-up to the firm's earlier investment of €1.1 million via TGV4.

This substantial financial commitment underlines TGV's belief in BUSUP's potential to achieve profitable scaling, especially given the company’s outstanding trajectory. In the past year, BUSUP has seen remarkable growth, recording a 57.5% year-over-year increase and currently managing over 700,000 rides each month. With ambitious targets set, BUSUP anticipates reaching €10 million in annual recurring revenues (ARR) soon, alongside a projected budget of €48 million in gross merchandise value (GMV) for 2025.

Despite the challenges many firms face, BUSUP has maintained a keen focus on disciplined operations and scalable technology, which has enabled it to move closer to breakeven profitability. A significant catalyst for this success is BUSUP's emerging presence in the Americas, which complements its already strong foothold in Europe.

The company's model stands out as it provides efficient, flexible, and sustainable transportation solutions specifically designed for large employers and educational institutions. By simplifying the complexities of mobility and significantly cutting down on environmental impacts, BUSUP has carved a niche in the fast-evolving realm of corporate mobility.

Konrad Wawruch, a founding partner at TGV, expressed pride in strengthening the partnership with BUSUP during this crucial phase. He remarked, "Their capacity to sustain robust growth while developing a scalable and sustainable mobility model is truly impressive. With this additional investment, we are backing a team that is pioneering the future of corporate mobility solutions."

On the other hand, Rui Fernandes, the founder of BUSUP, shared his enthusiasm in welcoming TGV's continued support. He highlighted TGV’s steadfast commitment to aiding startups as a prime example of how to effectively foster company growth and success.

Since its inception in 2016, BUSUP has emerged as a leader in outsourced corporate mobility services. The platform optimizes how corporations manage employee movements, simultaneously ensuring cost-effective practices and providing eco-friendly alternatives. With a robust network of over 170 local operators and advanced technology, BUSUP stands as a unique service provider capable of executing corporate mobility solutions across Europe, the United States, and Latin America. The impact is substantial, with clients reportedly reducing travel costs by up to 40% and their carbon emissions associated with business travel by an impressive 74%.

As BUSUP continues to shape the framework for tech-driven commuting solutions, its role is pivotal in transforming urban and suburban mobility. With TGV's bolstered support, the horizon looks bright for BUSUP and its mission to redefine corporate transportation norms.

About True Global Ventures

True Global Ventures is a globally recognized venture capital firm dedicated to investing in ambitious entrepreneurs who aim to build market leaders, particularly in AI and blockchain. Focused on scalability and revenue generation, TGV manages a portfolio with a dual fund approach comprising early-stage and late-stage investments, striving to support transformative change across technology-driven businesses.

About BUSUP

Founded in 2016, BUSUP leads in the provision of outsourced corporate mobility services. It helps organizations optimize employee transportation while ensuring cost efficiency and environmental sustainability, standing out in the competitive mobility landscape through its comprehensive technological solutions and expansive operator network.