This week, three travel technology startups have unveiled successful fundraising efforts, amassing over $57 million in total.
One of these startups, YouTrip, a multi-currency payments platform designed for global travelers, has secured $50 million in its series B funding round, with Lightspeed Venture Partners leading the investment. With this latest funding, the Singapore-based company has now raised over $100 million, having previously raised $30 million in a series A round in 2021.
Three travel tech startups have recently secured significant funding:
YouTrip: This platform facilitates seamless currency exchange for travelers in over 150 countries without hidden fees, offering wholesale exchange rates. Over the past two years, YouTrip’s user base in Southeast Asia has tripled, and the platform’s transaction volume has quadrupled since the previous funding round. The company introduced a corporate card and spend management platform for small and medium businesses, with over 3,000 clients and plans to double this number by 2024. The funding will be used to develop new features for both consumer and corporate platforms, expand into new markets, introduce additional currencies, and integrate with Google Pay, following its integration with Apple Pay in August.
Flash Pack: This London-based startup organizes curated group trips for solo travelers in their 30s and 40s, emphasizing meaningful connections. The company recently secured $6.2 million in funding, with a focus on solo travelers, 60% of whom come from the U.S. This investment follows the company’s revival after facing bankruptcy during the pandemic. The funds will be directed towards enhancing the product, hiring tech professionals, and establishing an office.
InterLnkd: London-based InterLnkd has raised $1.2 million in seed funding. Their white-label platform allows travel sellers, including airlines, tour operators, and online travel agencies, to expand their revenue streams by offering fashion and beauty products from a portfolio of over 20,000 brands. These products are integrated into travel packages and personalized for travelers based on their trip plans. The funding will support the company’s growth acceleration and international expansion efforts.
