Capital One is investing an additional $96
million in Hopper and extending its partnership with the travel company.
2021, Capital One led Hopper’s Series F round of $170 million. That investment
marked the launch of Hopper Cloud, the company’s B2B initiative, with Capital
One as its first client. In September 2021, Capital
One unveiled its revamped Capital One Travel portal powered by Hopper.
“Capital One has invested
heavily in our own tech journey to ensure we can be nimble and innovate on our
platforms and experiences at scale. With Hopper, we have found a partner who
can not only match that pace but help us continue to challenge the status quo
and take a differentiated approach to building a world class travel brand,” says
Matt Knise, managing vice president of U.S. Card at Capital One.
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“Through this strategic
partnership, we’re well-positioned to adapt to a rapidly changing travel
environment and create industry-leading solutions for our customers along their
Capital One Travel uses
Hopper Cloud to offer customers features such as price alerts, price drop
protection and the ability to cancel a flight for any reason.
are thrilled to be extending our partnership with Capital One to further the
growth and expansion of Capital One Travel,” says Frederic Lalonde, CEO and
co-founder of Hopper.
“We look forward to continuing to deliver a game-changing
travel booking experience that evolves to meet the next generation of
says its share of third-party air travel in the United States has increased to
11.2%, and it is now the third largest online travel agency in North America.
The company says it is on track to sell $4.5
billion in travel and travel fintech this year across flights, hotels, homes
and rental cars.
Hopper has begun rolling
out social commerce features that enable users to earn discounts toward
future purchases, and it says the new funding will be used to further those
social commerce efforts.
To date Hopper has raise more than $700 million.
The Phocuswright Conference 2022
Executive Interview: The Next Big Thing featuring Hopper co-founder and CEO Fred Lalonde