Caravelo, headquartered in Barcelona, which provides travel subscription solutions, has closed €3.5 million in Series A funding from Spanish investors. The investment round was led by Samaipata (which invested in Nory and Carbon Maps) with participation from Adara Ventures and other existing investors.
This is one of the largest early-stage investments in Samaipata’s history. Also, it is a testament to Caravelo’s growth potential and unique position in the travel subscription market.
This investment follows a series of recent commercial successes for the company, including the announcement of the first all-you-can-fly subscription in Latin America and the first true flight subscription in Europe.
Caravelo plans to deploy the funds to expand its current team and develop its platform.
Luis Garay, Partner at Samaipata said, “Caravelo’s product is miles ahead from anything else out there, and is the only logical, enterprise-grade, choice for travel subscriptions.” He added, “The company’s positioning as an industry leader, and their impressive pipeline, makes it a very attractive investment for us”.
Ross Strachan, Principal at Adara Ventures stated, “Caravelo is well-positioned to take advantage of the increasing popularity of travel subscriptions, and we are proud to continue supporting the team through this next phase of growth.”
Commenting on the news, Caravelo’s CEO Iñaki Uriz said, “This investment will give Caravelo the tools it needs to meet the growing demand for travel subscriptions, allowing us to continue the expansion of the team and the development of our platform”.
Netflix of travel subscription solutions
Founded in 2015 by Iñaki Uriz and José Luis Vilar, Caravelo is a travel-tech company, which provides subscription solutions to the travel industry.
The SaaS company has been providing flight subscriptions solutions and know-how to airlines. Currently, it is touted to be the only company in the world that can create and manage true flight subscription programs.
These subscription solutions help travel companies increase revenue and market share. Also, it will improve crisis resilience, reduce the impact of seasonality and create a better customer experience.
Travel subscriptions from Caravelo
Firstly, Caravelo offers Trip Subscriptions that are form of travel subscription, where users pay a recurring fee to access a set number of trips.
It also offers All-You-Can-Travel Subscriptions, the most common form of unlimited subscriptions. They are ideal for extracting revenue from inventory that is at risk of remaining unsold and boosting ancillaries.
Lastly, the company offers Clubs Subscriptions, also known as Memberships. These are simple travel subscriptions that give access to perks or discounts. They influence the choice of provider in people who already decided to travel, increasing market share.
