Focused on travel technologies with headquarters in Montreal and Boston Hopper, Capital one received an investment of 170 million dollars in the investment tour of the Series F. Tour, GS Growth, Inovia Capital, WestCap Group Y Citi Ventures also participated. The company received an investment of $ 70 million last March. It’s really noteworthy that a travel tech startup received these investments during the Covid-19 pandemic.
The investment is part of Hopper’s new partnership with Capital One to strengthen the “Capital One Travel” platform that helps cardholders book flights, hotels and cars. This feature is expected to launch in the second half of the year.
In 2007, Frederic lalonde Y Joost Ouwerkerk Hopper was not doing what he currently does and was selling airline tickets on the go. However, the company currently functions as a mobile application that uses big data to predict and analyze airfare and accommodation. Hopper provides passengers with the information they need to get the best deals on flights and hotels, and keeps people informed when prices hit the lowest predicted points.
The platform also offers deduction insurance service. Hopper’s outage insurance, while basically looking like a booking service, actually comes into play if, for whatever reason, you miss a flight and choose outage insurance service. Because when you miss a flight, you can go to your destination with every flight that leaves that airport, regardless of the airline.
Although Hopper received investments during the epidemic period, the company 45 percent of its employees had to be laid off. But co-founder Frederic Lalonde says travel services are slowly making a comeback and the company will soon return to its original form. Additionally, Hopper reported a triple-digit increase in revenue last year, even though he had to lay off his employees at the start of the pandemic, and in the last two quartersto meet the growing demand for your services has increased its customer service team by 180 percent.