Payment platform for travel agencies WeTravel has completed a $2m Seed funding round.
Contributions to the round came from The House Fund, 500 Startups, Amino Capital and the former CEO of TubeMogul Brett Wilson, among others. As part of the transaction, Wilson will join WeTravel’s board of directors.
Launched in 2016, the company helps travel companies create booking pages, accept payments, and manage their promotions, communications and financials. The California-based company, which has more than 1,200 clients, also helps independent travel agents, retreat organisers and school trips with bookings and payments.
Last year, WeTravel helped transact over $15m in 2017, and opened a European subsidiary to support expansion in Europe.
Equity from the round will be used to support existing traction on the platform, expand internationally and scaling its team.
WeTravel CEO Johannes Koeppel said, “WeTravel is a natural fit for SMB travel companies. They often lack efficient, cost-effective online payment systems, especially when they offer multi-day custom itineraries or group trips. WeTravel provides them with a simple online booking engine that can be integrated into their own websites even with very limited tech knowledge.”
The company initially came out of US Berkeley’s SkyDeck accelerator and also received support from First Round Capital and Foundation Capital, according to the company.
Last year, travel expense solution provider TravelBank closed a $25m Series B led by DCM Ventures, to support its team and product expansion.
The North American payments and remittance sector saw a dip in funding in Q2 2017, but a total of $2.1bn was invested in the region. This is compared to 2016, when $1.8bn was invested, but across 55 more deals.
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