Booking and payments platform WeTravel has raised $27m in Series B funding. The investment was led by Left Lane Capital with existing investors Base10 Partners and Swift Ventures and a number of angel investors also involved. The Series B brings the company’s total capital raised to £34m.
The funds will go toward the addition of travel fintech solutions for travelers and business owners.
Founded in 2016, WeTravel provides a booking and payments platform for multi-day and group travel companies. The company aims to support travel business by digitising and simplifying the travel booking process, from itinerary building to trip management. WeTravel leverages SaaS and FinTech solutions to handle the needs of multi-day travel businesses booking and payments in one platform.
Currently, the platform is used by more than 3,000 travel companies to transact with nearly 500,000 travellers and thousands of suppliers annually.
In April, WeTravel added an instant payment feature, which allows travel businesses in the United States that use WeTravel’s platform to transfer funds to suppliers, employees and contractors for immediate cash withdrawal.
Johannes Koeppel, co-founder and CEO of WeTravel, says: “Over the past six years, we’ve developed an intuitive and accessible booking management software built for multi-day travel businesses. From creating stand-alone or integrated trip pages – with travel features and functionality – to collecting and handling traveler information to transacting with travelers and suppliers across the globe, in an instant, WeTravel’s platform has made it possible for any travel business to not only operate a business, but to be a successful travel business owner.”
The company says it will transact payments from 500,000 travelers this year and adds that it is used by more than 3,000 global travel companies.
“To extend our platform’s capabilities for users, we’ll be investing in multi-day travel businesses to engage, transact and retain their stakeholders and increase revenue,” Koeppel says.
“What this platform extension means is opportunity for travel businesses to have access to the necessary booking and payment options that will help grow their travel business.”
