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WeTravel snaps $27M to become ‘The PayPal for travel’

WeTravel team
Image credits: WeTravel

San Francisco-based WeTravel, an all-in-one business management and payments platform built for multi-day travel businesses has snapped $27 million in Series B funding. With this round, the total funding raised by the company accounts for $34 million.

Series B investment round

The financing round was led by Left Lane Capital (which closed $1.4B in an oversubscribed round and backed Diamond Standard), with participation from existing investors, Base10 Partners, Swift Ventures, and several high-profile angel investors. WeTravel will use the investment to accelerate the business’s travel-specific fintech product development.

“Over the past six years, we’ve developed an intuitive and accessible booking management software built for multi-day travel businesses,” said Johannes Koeppel, co-founder, and CEO. “From creating stand-alone or integrated trip pages—with travel features and functionality—to collecting and handling traveller information to transacting with travelers and suppliers across the globe, in an instant, WeTravel’s platform has made it possible for any travel business to not only operate a business but to be a successful travel business owner.”

“Despite unprecedented headwinds in the peak of Covid, WeTravel’s team has stayed focused for years on solving extremely complex problems for multi-day travel operators. The result is best-in-class booking and payment technology for this underserved group. We couldn’t be more honored to partner with such humble and dedicated founders,” said Vinny Pujji, Left Lane Capital’s managing partner.

“Since leading Series A, we’ve been so impressed by WeTravel’s continued growth and resiliency in a difficult travel market environment. The future is bright for this team, and we’re excited to double down and support their vision to revolutionize the day-to-day workflow of a multi-day tour operator,” said Rexhi Dollaku, Base10’s partner.

The PayPal for travel!

WeTravel was founded in 2016 by Johannes Koeppel, Garib Mehdiyvev, and Zaky Prabowo. It provides a complete booking and payment platform for multi-day and group travel companies of all sizes. It gives clients an easy booking experience while also helping them manage financials, payments to partners or banks, registration information, and client communication all in one place.

Headquartered in San Francisco, WeTravel has a second hub in Amsterdam. It works with thousands of multi-day travel companies from around the world, helping them convert their bookings faster and grow their business. The company is described as PayPal for travel. The business began integrating payment solutions ranging from installment payments to instant payouts and a peer-to-peer payment network into its booking system, allowing travel businesses to control money movement, refunds and disputes, and traveller transactions.

With an extensive existing suite of travel-specific features, WeTravel will continue to adapt its agile fintech solutions, build-out innovative fintech features, and functions, and prioritise growing its diverse team to handle its product’s evolution. The platform is used by over 3,000 global travel companies across multiple travel segments from student groups to adventure travel.

WeTravel’s platform disrupts legacy booking and payment systems with its travel-specific functionality and intuitive support features for any-sized business’s group trips. It charges a 1 percent transaction fee to manage everything through one platform.

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