YouTrip Raises $50 Million: Startup Funding Roundup

27.10.2023 - 22:19 / skift.com / Justin Dawes

Three travel tech startups have announced fundraises this week of more than $57 million.

>>YouTrip, a multi-currency payments platform geared toward international travelers, has raised $50 million in series B funding led by Lightspeed Venture Partners. 

The Singapore-based company has now raised more than $100 million, including a $30 million series A round in 2021.  

YouTrip says its platform allows travelers to more easily make payments between currencies in more than 150 countries, with no hidden fees and at wholesale exchange rates. 

YouTrip said its user base in Southeast Asia has tripled over the past two years, and the amount of money processed through the platform has quadrupled since the last funding round.  

The company last year released a corporate card and spend management platform for small and medium businesses. That division of the company now has more than 3,000 clients, with a goal of doubling that number by 2024. 

The funding will go toward new products and features for its consumer and corporate platforms, as well as expanding into new markets and offering new currencies, according to a blog post by YouTrip co-founder and CEO Caecilia Chu.

The company also plans to integrate with Google Pay later this year. It integrated with Apple Pay in August. 

>>Flash Pack, which specializes in organizing “boutique” group trips for solo travelers in their 30s and 40s, has raised $6.2 million. The round was led by JamJar Investments, with support from PPF.   

London-based Flash Pack said its service is meant for solo travelers who want to meet like-minded people on currated trips. Users can book trips in a variety of locations. Each trip has a set maximum number of people.

The startup said 60% of sales have been driven by travelers from the U.S. 

The investment comes three years after the business was forced into bankruptcy during the pandemic. 

“In the last two years since the brand’s relaunch, we have seen a massive appetite from customers to build meaningful connections through travel,” said Radha Vyas, CEO and co-founder of Flash Pack. 

The company now has 65 employees.

The funding will go toward improving the product, hiring tech workers, and opening an office. 

>>InterLnkd, a platform that enables travel sellers to also sell fashion and beauty products, has raised $1.2 million (£1 million) in seed funding. It was led by Vanneck, with support from individual investors.

London-based InterLnkd said its white-label platform is meant to give travel sellers — including airlines, tour operators, and online travel agencies — a new source of revenue. The company said it offers a portfolio of products from more than 20,000 brands, including Thomas Cook, HolidayPirates, and LeShuttle.

Travel