CDS Groupe, a hotel booking platform for business travel, is expanding into the German market through an acquisition.
25.08.2023 - 13:14 / skift.com / Royal Air Maroc / Justin Dawes / Thayer Ventures
Six travel tech startups reported raising nearly $49 million this week.
>>Fairlyne, a platform reselling travel tickets, has raised $3 million in seed funding. The round was led by Speedinvest with participation from Evolem, Kima Ventures, FJ Lab, and several angel investors.
The France-based tool, which is integrated into the tech platforms of client travel companies, allows consumers to resell otherwise non-refundable tickets. While operators in industries like sports and entertainment have been able to offer resale services, travel companies have not because of a lack of technology, the startup said.
Besides resale, Fairlyne said its tool can help companies more easily sell unused tickets.
The French low-cost railway operator Ouigo has already been using the platform, allowing consumers to resell tickets directly through the Ouigo website and app. The airline Royal Air Maroc will begin using it in the next several months.
“We realized that travel customers were willing to resell their bookings and meanwhile that no-shows represent a lucrative opportunity for travel operators — if they could offer customers who couldn’t make it the chance to resell in advance,” said Gilles de Richemond, Fairlyne co-founder and CEO, in a statement. “So, we built a platform, which can be integrated into any operators’ consumer-facing channels providing customers with a seamless resale experience. The incremental revenue from no-shows can be significant.”
The funding will go toward further developing the platform, adding new clients, and expanding into new markets including the U.S.
>>HyperGuest, a platform for connecting hotels directly with sellers, has raised $23 million in series A funding. The round was led by Lightspeed Venture Partners, with participation from Viola Ventures, Altshuler Shaham, and Thayer Ventures.
Tel Aviv-based HyperGuest said its platform enables hotels and travel suppliers to connect directly with travel sellers, such as online travel agencies, without going through intermediary distribution channels.
Avoiding intermediaries and their fees is meant to give sellers and suppliers higher margins and more control over their business.
The platform has been used by more than 25,000 hotels, the startup said. The investment will go toward accelerating growth and strengthening the tech product.
>>Topkey, a financial operating system for vacation rental and hospitality property management companies, has raised $5.2 million in seed funding.
The round was led by Felicis, with participation from a16z, Y Combinator, Assurant Ventures, Grit Partners, Joe Montana’s Liquid2 Ventures, Derive Ventures, Grit Partners, Kindergarten Ventures, and angel investors including Andrew Kitchell of Wheelhouse.
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CDS Groupe, a hotel booking platform for business travel, is expanding into the German market through an acquisition.
10 travel tech startups announced over $78 million in funding over the past two weeks.
Three startups involved in the travel industry announced fundraises this week totalling more than $316 million.
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