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Montreal-based Hopper will power the travel rewards program for Canada’s largest lender, including for its Avion Visa cardholders, after years of the bank partnering with online travel company Expedia. (The Logic)
Talking point: Hopper, which makes a travel platform and app, has similar deals with 17 airlines and 12 international financial institutions, including Capital One, but RBC is the first Canadian bank with which it has partnered. The deal comes after RBC said last year it is attempting to increase its rewards-program member base by 40 per cent, from 10 million members in 2024 to 14 million by 2029. Hopper CEO Frederic Lalonde said last January that the company hopes to eventually list on the Toronto Stock Exchange and Nasdaq with a valuation between US$5 billion and US$10 billion, and should be on track to generate more than US$1 billion in trailing sales before it goes public. Hopper was last valued at US$5 billion in 2022, according to PitchBook data.
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