Seatfrog secures £6m investment
Rail ticketing app Seatfrog has secured £6m in a growth funding round to accelerate its expansion in Europe.
The UK-headquartered business lets passengers book train tickets, switch trains, and bid for an upgrade to first class through its app.
Seatfrog, which has over one million customers, achieved over 800% revenue growth in 2022.
Launched in 2018, the company has secured a £6m funding round to deliver the next stage of its expansion plan after 12 months of record growth.
RazorSecure receives £1.3m funding
Railway cybersecurity firm RazorSecure has secured £1.3m of investment to support the UK firm’s growth programme. Over the next five years, RazorSecure plans to expand into Europe and North America, creating at least 67 new jobs in the UK. Founded in 2015, RazorSecure develops and deploys cybersecurity solutions designed to protect railway systems and critical infrastructure from malicious intrusion.
Harry Needle secures £2m investment
Harry Needle Railway Company (HNRC) has received £2m in funding to support plans to increase its capacity and develop greener locomotives. The British spot-hire firm says it has plans to create 50 jobs over the next five years. The investment was provided by national financier Frontier Development Capital’s Advanced Manufacturing Supply Chain Initiative Recycled Fun.
CAF receives €200m train contract from Renfe
Construcciones y Auxiliar de Ferrocarriles (CAF) has received a €200m order from Spain’s national passenger railway company Renfe for the delivery of 29 commuter trains. It also has an option for the manufacturing of an additional nine complete trains and additional cars that can be used to expand the units in the base contract. The new trains can accommodate up to 500 passengers and feature a four-car basic configuration.