The Montreal-based company specializes in upgrade bidding, and allows airlines to sell off their unused inventory. It works with 70 carriers globally, including Lufthansa, Cathay Pacific and Air Canada. The investment values the company north of $600 million; Plusgrade’s CEO Ken Harris said it plans to use the new cash to focus on international expansion and further market expansion into other travel areas, like cruise ships. (Financial Post)
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The Montreal-based company specializes in upgrade bidding, and allows airlines to sell off their unused inventory. It works with 70 carriers globally, including Lufthansa, Cathay Pacific and Air Canada. The investment values the company north of $600 million; Plusgrade’s CEO Ken Harris said it plans to use the new cash to focus on international expansion and further market expansion into other travel areas, like cruise ships. (Financial Post)
Talking point: The Caisse de dépôt et placement du Québec has a strategy in place to invest in Quebec-based firms that are focusing on international expansion. This is also its second major investment in travel tech: in 2016, it made a $40-million bet on Hopper, the travel booking app.
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