Funding to start travel this week

take the change

Hotaliors is securing more cash to develop new products and carry out a rebranding, while insurance platform Faye wants to facilitate new financing claim processes.

Matthew Parsons

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

>> Hotelorsa corporate booking tool, has secured $24.17 million in new funding.

The company tour was presented by current investor DialCom24.

The capital will be used to launch new insurance and financial products, expand in the US, Middle East and North Africa, as well as help fund the rebranding from Hotailors to WorkTrips.com.

The company, which is headquartered in Poznan, Poland, is a customer of Google, Vodafone and Microsoft.

>> Kabifean order-delivery app, has secured a $41.85 million loan to purchase 1,400 electric vehicles.

The investment is approved by the European Investment Bank.

Spain’s Cabify will also invest in digital infrastructure, while the financing will improve the provision of zero-emission urban mobility in the cities where the startup operates. Cabify generally aims to have an emission-free fleet by 2025.

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

Red Dot Capital Partners led the Series C round with investments from Menorah and Tenere Capital. Existing investors Alef, Corner Ventures and Entry Capital also participated. Barak Salomon, Managing Partner of Red Dot, will join the Bookaway Group’s board of directors.

The Bookaway group wants to digitize booking ground transportation, including ferry, coach and coach travel. It also wants to provide new financial models and operational tools that support operators recover from the pandemic more quickly, and improve daily fleet management and profitability.

Bookaway.com has made four acquisitions in the past 12 months, including 12Go, GetByBus and Plataforma 10. Bookaway Group CEO Noam Twister said the company expects to continue its acquisition strategy, becoming “the only player able to offer full inventory ground transportation worldwide.”

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

Viola Ventures and F2 Venture Capital led the tour, with input from Portage Ventures, Global Founders Capital and former NBA player Omri Caspi.

Fi Protection can cover trips, health, property, and even pets with an app that sends proactive alerts and provides access to customer experience specialists. It enables users to submit claims digitally, and quickly pay approved claims via electronic transfers to Faye Wallet.

Fi is currently available to residents of 40 states in the US, but it plans to expand to more.

>> Catanoxa travel accommodation distribution company and financial technology platform, raised $5.7 million.

Funds were secured from several investors, including Rappi and Yuno co-founder Juan Pablo Ortega. Kannox has also appointed Rob Torres as a new Executive Director of Expedia as a non-executive director.

The company plans to expand the distribution of accommodation among companies.

company The theater Leadership upload
capify loan European Investment Bank 40 million dollars
Bookaway group Series C Red Dot Capital Partners $35 million
Hotelors big company order 24 $24.17 million
fi seed Viola Ventures / F2 Venture Capital 10 million dollars
Catanox seed diverse $5.7 million

Skift Cheat Sheet

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

Series A Funding is usually obtained from venture capitalists. The tour aims to help the founders of the startup make sure that their product is something that customers really want to buy.

series b Funding mainly pertains to venture capital firms that help the company grow faster. These fundraising rounds can help recruit skilled workers and develop cost-effective marketing.

Series C Financing is usually related to helping a company expand, such as with acquisitions. In addition to venture capital, hedge funds, investment banks, and private equity firms are often involved.

Series DAnd E and beyond These fundamentally mature companies and funding round may help the company prepare for an IPO or acquisition. A variety of types of private investors may be involved.

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