Bregal Milestone Makes Strategic Growth Investment in Ridango to Drive Innovation in Public Transport Software
Bregal Milestone, a leading European software growth private equity firm, has announced a majority strategic growth investment in Ridango, a global leader in mission-critical public transportation software. This investment, made in partnership with founder Erki Lipre and the Ridango management team, will propel the company’s expansion into new markets and accelerate technological advancements. While financial terms of the transaction remain undisclosed, the deal represents a significant milestone for Ridango as it seeks to further establish itself as a dominant force in intelligent transportation systems worldwide.
Ridango’s Market Leadership and Vision
Founded in 2009, Ridango has rapidly emerged as a global market leader in intelligent transportation software, serving public transport authorities, municipalities, cities, and private transport operators. With a presence in over 25 countries across five continents, the company has developed one of the most advanced automated fare collection (AFC) and transit operations control software platforms in the industry.
Ridango’s end-to-end solutions include account-based ticketing, contactless bank card acceptance, real-time passenger information systems (RTPI), and automatic vehicle location (AVL) tracking. These technologies enable cities and transit operators to deliver more efficient, reliable, and user-friendly public transport experiences. By streamlining fare collection and real-time transit management, Ridango enhances operational transparency, reduces inefficiencies, and improves passenger satisfaction.
Accelerating Growth with Bregal Milestone
With Bregal Milestone’s operational and financial backing, Ridango is poised to accelerate both organic and inorganic growth. The company has seen a surge in customer activity in Sweden, winning key transit contracts with Västtrafik, Sörmlandstrafiken, and Västmanlandstrafiken. As a result, Ridango is establishing a new European headquarters in Sweden, alongside its R&D hubs in Estonia and Slovenia and regional sales and marketing hubs in the Middle East and APAC following significant customer wins in the UAE, Qatar, Saudi Arabia, Singapore, and Hong Kong.
Erki Lipre, Founder and CEO of Ridango, emphasized the importance of this partnership in accelerating the company’s strategic growth:
“Our partnership with Bregal Milestone marks a significant next step in our growth strategy. We extend our sincerest thanks to our prior investors, BaltCap Private Equity, and look forward to the proactive support and expertise from Bregal Milestone and their in-house value creation team, Milestone Performance Partners. This will help us accelerate our investment in next-generation technology and expand our go-to-market activity in new regions.”
A Transformational Shift in Public Transit Technology
Public transport is at the heart of sustainable urban development, and Ridango is committed to modernizing transit networks with cutting-edge technology. With the demand for digitization in transportation growing, Ridango’s solutions cater to a market increasingly shifting from card-based ticketing to account-based ticketing systems. This shift is driven by the need for greater flexibility, improved passenger convenience, and enhanced operational efficiency.
Cyrus Shey, Managing Partner at Bregal Milestone, highlighted the opportunities in public transport digitalization and Ridango’s role in leading this transformation:
“Ridango’s strong commitment to innovation has positioned it as the software operating system of choice for transit operators looking to modernize fare collection and optimize passenger experience. We see strong tailwinds as private transport operators and public transit agencies accelerate their investments in digitalization, and we are thrilled to partner with Erki and his leadership team to support Ridango in capitalizing on these megatrends.”
Harnessing AI and Cloud-Based Technology for Transit Optimization
Ridango’s platform integrates AI-driven predictive analytics and cloud-based fare collection systems, allowing transit authorities to make data-driven decisions that enhance operational efficiency and commuter experiences. By leveraging AI and big data, Ridango provides real-time insights into passenger flows, helping transport operators optimize routes, reduce congestion, and improve service reliability.
Sebastian Charpentier, Principal at Bregal Milestone, elaborated on Ridango’s technological superiority:
“We are honored to enter this strategic partnership with Ridango, a company that continues to drive innovation in the transit sector. Ridango offers what we see as the most advanced end-to-end transit software, featuring AI-driven predictive analytics and cloud-based fare collection. The company is uniquely positioned to lead the digital transformation for public transportation authorities and operators, creating long-term sustainable value for the communities they serve.”
Expanding Ridango’s Global Reach
With Bregal Milestone’s investment, Ridango will focus on expanding its international footprint, securing new partnerships, and furthering its research and development capabilities. The company plans to enhance its existing product suite and develop next-generation transit solutions, ensuring that public transportation remains accessible, efficient, and environmentally sustainable.
As part of this expansion strategy, Ridango is:
- Strengthening its presence in Europe with a focus on Sweden as a strategic hub.
- Scaling operations in the Middle East (UAE, Qatar, Saudi Arabia) and APAC (Singapore, Hong Kong).
- Expanding its AI-driven transit management capabilities to meet the needs of modern transit operators.
- Enhancing partnerships with government agencies and municipalities to drive urban mobility innovation.
Legal and Financial Advisors
To ensure a smooth transition, the transaction was supported by leading financial and legal advisors. White & Case served as legal counsel and Deloitte as financial advisor for Bregal Milestone. Sorainen provided legal counsel for Ridango. The transaction will be finalized following regulatory approvals.
About Bregal Milestone
Bregal Milestone is a leading software and technology private equity firm with approximately €1.3 billion in capital raised since inception. The firm specializes in growth capital investments, providing strategic and operational support to market-leading technology companies. As part of Bregal Investments, a global investment platform with over €19 billion in assets under management, Bregal Milestone has earned recognition for its innovative approach to growth equity investments. The firm was recently recognized by GrowthCap as one of the Top Growth Equity Firms of 2024.
For more information, visit www.bregalmilestone.com or follow Bregal Milestone on LinkedIn.
About Ridango
Ridango is a global leader in transit technology, providing automated fare collection (AFC), real-time passenger information (RTPI), automatic vehicle location tracking (AVL), and mobility-as-a-service (MaaS) solutions to public transport operators and municipalities worldwide. Ridango’s mission is to enhance efficiency, accessibility, and sustainability in public transit through innovative, AI-driven technology.
By leveraging advanced cloud-based transit management systems, Ridango empowers transport operators to streamline fare collection, enhance operational transparency, and improve passenger experiences. As cities and governments seek sustainable mobility solutions, Ridango remains at the forefront of public transit digital transformation.
For more information about Ridango, visit www.ridango.com.