Travel seed funding this week
This week, travel startups announced more than $198 million in funding, including business management startup TravelPerk and half a dozen other companies.
This week, travel startups announced over $198 million dollars in funding.
General Catalyst led the round, giving the startup a $1.3 billion valuation. The Barcelona-based company has raised $409 million to date.
See Skift coverage: TravelPerk taps former Booking.com CEO to expand after raising $115 million.
>>Fly now Pay later, a London-based fintech company, raised $75 million in debt funding provided by funds managed by Atalaya Capital Management, which also took an equity stake.
The startup will use the funding to further expand in the US market. It has raised a total of $150 million since its launch in 2015.
The company allows consumers to spread the cost of a trip over multiple payments, up to 12 monthly installments.
“Our proprietary platform was designed to make instant credit decisions, providing highly personalized and digestible payment options to consumers traditionally underserved by legacy lending institutions,” said Founder and CEO Jasper Dykes.
The startup has “hundreds” of customers, including Malaysia Airlines, Air Serbia and Azores Airlines.
>>Origin, a membership-based travel agency, raised $5 million in seed funding.
Project A led the round.
The company offers tailor-made trips via a mobile application.
Origin was co-founded by Eli Bessert, who was previously an executive at stitch correction, an online custom clothing service. Origin uses similar approaches to Stitch Fix to give travel advisors “superpowers” through services that leverage automation and machine learning.
>>Travel Grid, a travel management company, closed a $1.6 million funding round. Investors included Portland Seed Fund and Cascade Seed Fund.
The Portland-based startup had already raised $1.5 million. It offers automation software to facilitate business-related group travel.
>>AirStudent, a Johannesburg-based online travel agency, raised undisclosed seed funding from E Squared Investments in 2021.
The startup helps students travel between their home and university in Southern Africa in coordinated groups so they can benefit from volume discounts for domestic travel negotiated directly with airlines.
The startup was founded by Ndabenhle Ntshangase and Lwanda Shabalala in 2017, VentureBurn reported.
Partners to date include Comair (locally operating British Airways and Kulula.com), the latest South African airline Lift and Europcar.
>>jet camp, an online booking service for campsites and holiday parks, closed a funding round of $572,000 (€500,000).
Falkensteiner Michaeler Tourism Group (FMTG) and Cunningham Holding participated.
The Booking Services website has nearly 23,000 verified campsites and holiday parks listed and attracted more than 4 million visitors in 2021.
>>TripGuru, an experiences booking website, has raised an undisclosed sum of funding from Velocity Ventures, a Singapore-based company that focuses on the Southeast Asian hospitality and travel sectors.
|TravelPerk||D-Series||General Catalyst||$115 million|
|Fly now Pay later||Debt financing||Atalaya||$75 million|
|Origin||Plant||Project A||$5 million|
|Travel grid||Pre-series A||Portland Seed Fund||$1.6 million|
|AirStudent||Plant||E-squared investments||N / A|
|jet camp||Plant||FMTG and Cunningham||$572,000|
|TripGuru||Plant||Velocity Ventures||N / A|
Skift Cheat Sheet:
We define a startup as a company formed to test and build a repeatable and scalable business model. Few companies meet this definition. The few that often attract venture capital. Their funding rounds come in waves.
Seed capital is the money used to start a business, often led by angel investors and friends or family.
A-Series funding usually comes from venture capitalists. The cycle aims to help startup founders ensure that their product is something customers actually want to buy.
B-series funding is mostly for venture capitalists that help a business grow faster. These fundraisers can help recruit skilled workers and develop profitable marketing.
C-Series financing generally consists of helping a company to grow, for example through acquisitions. In addition to VCs, hedge funds, investment banks, and private equity firms often participate.
D-Series, And, beyond These mostly mature companies and the funding cycle can help a company prepare to go public or be acquired. Various types of private investors could participate.