Travel seed funding this week – Skift
Each week, we bring together travel startups that have recently received or announced funding. Please email Sean O’Neill, Travel Technology Editor, at [email protected] if you have any news about the funding.
This week, travel startups announced more than $ 12 million in funding.
>>Host Angel, a provider of revenue management software for property managers who manage short-term rentals and vacation rentals, has raised $ 5.2 million in seed funding.
White Star Capital led the round. Desjardins Capital, Panache Ventures and other investors also participated.
The Montreal-based company, co-founded in 2019 by CEO Eduardo Mandri and Véronique Lalonde, helps 350 property management companies in seven countries create online listings, set prices and manage customer service.
“Their 24/7 multilingual customer services team took the burden off our shoulders and their dynamic pricing strategies and implementation helped deliver great results for our customers,” said Carlson Lisboa , CEO of Tropical Villas in Orlando.
>>Thatch, a US-based mobile app that helps influencers organize their travel knowledge into shareable, interactive and monetizable travel content, said it has raised $ 3 million in additional seed funding.
Wave Capital led the round. Other investors included Netflix co-founder Marc Randolph.
The startup, which has raised a total of $ 5.2 million, plans to launch its tools to receive tips or payments from consumers for the interactive guides creators produce in the app. The founders told TechCrunch that more than 12 million people have used their app.
For more background, read Skift’s story from the start of the week: Social media influencers sync with startup tools to sell trips.
>>Wanderlog, a travel planning startup based in the San Francisco Bay Area, has raised $ 1.5 million in seed funding.
General Catalyst and Abstract Ventures led the way. General Catalyst was an early investor in Airbnb and ITA Software.
The startup, founded by brothers Harry Yu and Peter Xu, graduated from startup accelerator Y Combinator in 2019. It created an app that allows people to organize and map their routes for mostly leisure trips.
>>You travel, a trip planning app for group travel and social networking, raised $ 1 million.
Starta VC led the round.
The app allows travelers to correspond with other travelers who have upcoming trips or similar travel interests by chat or voice. Travelers can also use the app to access travel agents and travel hackers for planning assistance.
Founded three years ago, the company told TechCrunch that more than 10,000 travelers and 4,200 travel experts have created accounts on the platform.
>>Fuel Margin, a New Zealand provider of digital tools for car rental companies, recently closed a convertible note financing but did not disclose the amount.
The startup provides tools to set prices, forecast demand, and track what rival companies are doing in the market. It already has clients all over the world, but this funding will allow it to expand further in Europe.
“Some customers in Europe and elsewhere are using our platform to update over a million optimized prices daily,” said CEO Andrew Pascoe, who founded the company about five years ago. “Getting prices to scale is a major problem for operators. “
>>Fly for free with airlines, an Italian company that is creating a network of charter flights for business and luxury travelers, is trying to raise funding of around $ 11 million (€ 10 million) in capital by issuing shares through the stablecoin cryptocurrency.
The company also acquired Rome-based airline Romavia. Fly Free Airways, managed by Francesco D’Alessandro, is an aviation broker specializing in the management of business travel, the organization and management of charter flights around the world and the rental of private planes.
>>Zo World (which is part of Zostel), an India-based travel startup, has received a pledge from GEM Global Yield for capital of $ 17.8 million (15 million euros), Entrepreneur reported.
Zo World is building a decentralized travel market, licensing the Zostel name to India’s largest backpacker accommodation chain, Zostel Hospitality, at 51 locations, and plans to go public in India, possibly in October.
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 fundraising rounds come in waves.
Seed capital is the money used to start a business, often run by angel investors and friends or family.
Series A funding usually comes from venture capital firms. The cycle aims to help the founders of a startup make sure that their product is something that customers really want to buy.
B series funding is primarily for venture capital firms that help a business grow faster. These rounds of funding can help recruit skilled workers and develop profitable marketing.
C series financing usually involves helping a business grow, for example through acquisitions. In addition to VCs, hedge funds, investment banks and private equity firms often participate.
D series, E and beyond These predominantly mature companies and the round table can help a company prepare to go public or be bought out. Various types of private investors could participate.
Photo Credit: The Solara Resort is an available vacation rental in Florida. Property management of tropical villas