The Montreal-based travel app will also develop the booking platform for Capital One Travel, the bank’s new travel portal set to launch in the second half of 2021. Other investors include Inovia Capital, Westcap Group, Citi Ventures and GS Growth. (The Logic)
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The Montreal-based travel app will also develop the booking platform for Capital One Travel, the bank’s new travel portal set to launch in the second half of 2021. Other investors include Inovia Capital, Westcap Group, Citi Ventures and GS Growth. (The Logic)
Talking point: The new money gives Hopper a nearly US$2-billion valuation. As The Logic reported last May, Hopper secured US$70 million in funding from Inovia, as well as the Business Development Bank of Canada, Ontario Municipal Employees Retirement System, Investissement Québec and the Caisse de dépôt et placement du Québec. The funds were meant to help the company “leapfrog” rivals during the COVID-19 pandemic. Along with significant layoffs, the company introduced “bespoke fintech products” like scalable ticket-cancellation options, missed-connection insurance and a “price-freeze” function.
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