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COBALT advised Practica Capital on its investment to TRAFI

2015-05-15

COBALT advised Practica Capital in its investment to an on-line trip planning system TRAFI. The largest Series-A round investment in a Lithuania startup so far opens the door to wider global opportunities for the company. The investment was made together with Octopus Titan VCT and Octopus Eclipse VCT funds, EBRD and Baltcap Lithuania SME Fund LP.

TRAFI is world’s most accurate public transportation app focusing on emerging high-growth markets and was listed in Apple’s highly regarded “Best apps of 2014”. TRAFI provides superior user experience and transit planning information using real-time data complemented by proprietary prediction algorithms and crowd-sourced reports. Founded in 2013 in Lithuania, TRAFI brings scientific approach to public transportation with aim to raise confidence in public transport and its usage.

COBALT assistance included drafting and coordinating Lithuanian law governed transaction documents; review of English law governed documents, assistance during negotiations and advice on other transaction related matters. In addition, great attention had to be given for coordination of interests and expectations of the founders, seed investors and new investors and finding appropriate solutions for all the parties of the transaction. The project was led by Akvilė Bosaitė, Managing Associate, Head of Banking and Finance Practice Group.