Travel seed funding this week

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Skift grip

Hotaliors is getting more cash to develop new products and rebrand, while insurance platform Faye wants to make claims processes even easier with new funding.

Matthew Parson

This week, four travel startups collectively announced over $114 million in funding

>> Tailorsan enterprise booking tool, secured $24.17 million in new funding.

The funding round was provided by existing investor DialCom24.

The capital will be used to launch new insurance and financial products, expand into the United States, the Middle East and North Africa, and also help fund a rebranding from Hotailors to WorkTrips.com.

The Poznan, Poland-based company counts Google, Vodafone and Microsoft among its customers.

>> Cabifya ride-sharing app, received a $41.85 million loan to purchase 1,400 electric vehicles.

The investment has been approved by the European Investment Bank.

Spain’s Cabify will also invest in digital infrastructure, while the funding will improve the offer of emission-free urban mobility in the cities where the startup operates. Overall, Cabify is aiming for a zero emissions fleet by 2025.

>> Bookaway Groupa business-to-business platform that helps travel brands add ground transportation to flights and hotels, raised $35 million.

The Series C round was led by Red Dot Capital Partners with investments from Menorah and Tenere Capital. Existing investors Aleph, Corner Ventures and Entree Capital also participated. Red Dot managing partner Barak Salomon will join Bookaway Group’s board of directors.

Bookaway Group wants to digitize the booking of ground transport, including ferry, bus and coach travel. It also wants to provide new financial models and operational tools that help operators recover faster from the pandemic and improve day-to-day fleet management and profitability.

Bookaway.com has made four acquisitions in the last 12 months, including 12Go, GetByBus and Plataforma 10. Bookaway Group CEO Noam Toister said the company plans to continue its acquisition strategy, to become “the only capable of offering a complete land transport inventory on a global scale”. .”

>> faya travel insurance startup, raised $8 million in seed funding.

Viola Ventures and F2 Venture Capital led the round, with participation from Portage Ventures, Global Founders Capital and former NBA player Omri Casspi.

Faye’s protection can cover travel, health, personal effects, and even pets through an app that sends proactive alerts and provides access to customer experience specialists. It allows users to file claims digitally and quickly pay approved claims via electronic transfers to Faye Wallet.

Faye is currently available to residents of 40 US states, but plans to expand to more.

>> Katanoxa travel accommodation and fintech distribution platform, raised $5.7 million.

The money was secured from various investors, including Rappi and Yuno co-founder Juan Pablo Ortega. Kannox also named new Expedia executive Rob Torres as non-executive director.

The company plans to ramp up its B2B hosting distribution.

Company Arrange Carry out Increase
Cabify Ready EIB $40 million
Bookaway Group C-Series Red Dot Capital Partners $35 million
Tailors Business DialCom24 $24.17 million
fay Seed Viola Ventures/F2 Venture Capital $10 million
Katanox Seed Various $5.7 million

Skift Cheat Sheet

Seed capital is the money used to start a business, often led by angel investors and friends or family.

A-Series funding usually comes from venture capitalists. The cycle aims to help startup founders ensure that their product is something customers actually want to buy.

B-series funding is mostly for venture capitalists that help a business grow faster. These fundraisers can help recruit skilled workers and develop profitable marketing.

C-Series financing generally consists of helping a company to 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 mostly mature companies and the funding cycle can help a company prepare to go public or be acquired. Various types of private investors could participate.

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