Travel industry FinTech Uplift has closed a $123m Series C financing round led by Madrone Capital Partners.
Existing investors Draper Nexus, Ridge Ventures, Highgate Ventures, Barton Asset Management and PAR Capital also joined the round.
UpLift aims to make travel more accessible by providing travel providers with its software which allows flexible payments. The platform improves travel marketing metrics, including conversion, booking value, channel loyalty and ancillary revenue.
It also has recently launched UpLift Pay Monthly which provides consumers with a monthly payment option in the booking process. It has been adopted by a number of high profile clients, including United Airlines, SouthWest Airlines and JetBlue Airways, among others.
The business is set to use the new funding to engage in new travel supplier partnerships as well as invest in its growth, new travel-specific capabilities and new travel services.
“Uplift’s focused business model of bringing flexible payments to travel is a winner,” said Madrone general partner Jamie McJunkin. “Our confidence to invest was driven by an experienced management team, a very large market opportunity and the competitive advantages driven by the innovations Uplift has brought to the travel market.”
Uplift previously raised $15m from four investors in a series B funding round. The company also pulled in $75m of debt financing that same month.
The company first raised capital in 2014, and pulled in $8.1m in a series A round led by Ridge Ventures.
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