Booking and payments platform WeTravel has raised $27 million 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 funding, which brings WeTravel’s total to $34 million, will go toward the addition of travel fintech solutions for travelers and business owners. 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.
Subscribe to our newsletter below
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.”
WeTravel recently launched a Women in Travel vertical as part of its WeTravel Academy, designed to better support and represent individuals who identify as women in the travel industry, aligning with the United Nations Sustainable Development Goal Five for equality in tourism by empowering women and girls.
The company raised $2 million in funding in 2018.
The Phocuswright Conference 2022
Diversity in Leadership Program