Changeyourflight changes to Caravelo, raises cashNews / DistributionBy Martin Cowen | July 29, 2015Share This article was originally published on Barcelona-based airline software business Changeyourflight has rebranded as Caravelo and picked up €1 million from backers including the VC arm of Hahn Air.ChangeYourFlight featured as a Tnooz Startup Pitch in 2012.Caravelo, as the business is now known, has pivoted since its launch, hence the rebrand. It started out as an seat reseller - helping passengers with non-refundable tickets to give the seats back to the airline in exchange for a partial refund, allowing the airline to resell the seat.But over the years it added new products such as "Upgrade" and "Extra Seat." The former allows ticket holders to bid for an upgrade on the booked flight while the latter alerts passengers to an available adjacent seat.It also has a product which helps airlines automate refunds.It has six airlines signed up - Eurowings and Germanwings in Europe, Saudia in the Middle East and Scoot, NokScoot and Firefly in Asia-Pacific.The €1 million funding announced this week comes from HR Ventures, FIDES and unnamed individuals.HR Ventures is the venture capital arm of Hahn Air, a German scheduled airline and distribution business. HR Ventures was set up in 2012 and its investments so far include bus technology specialist Distribusion and other tech firms outside the travel sector.FIDES meanwhile is part of Fundacion Jose Manuel Entrecanales, a Madrid-based investment fund set up to invest in Spanish and/or sustainable businesses. It was an angel investor in Changeyourflight back in 2012.