Hopper secures US$70 million in funding in bid to survive COVID-19 pandemic—and ‘leapfrog’ rivals

As the COVID-19 pandemic devastates the global travel industry, Montreal-based airline-ticket broker Hopper has secured another US$70 million in funding, The Logic has learned. 

The round closed in mid-April based on a flat valuation, according to sources who spoke to The Logic on the condition they not be named due to the sensitivity of the negotiations. San Francisco-based venture capital firm Westcap led the round, with investors including Montreal-based Inovia as well as the Business Development Bank of Canada (BDC), the Ontario Municipal Employees Retirement System (OMERS), Investissement Québec and the Caisse de dépôt et placement du Québec.

    Join now to start reading premium, award-winning journalism.

    By entering your e-mail you consent to receiving commercial electronic messages from The Logic Inc. containing news, updates, offers or promotions about The Logic Inc.’s products and services. You can withdraw your consent at anytime. Please refer to our privacy policy or contact us for more details.

    In-depth, agenda-setting reporting

    Great journalism delivered straight to your inbox.

    Shopify CEO Tobi Lütke at The Wall Street Journal’s D.Live global technology conference in Laguna Beach, Calif., in November 2018.


    Magna, BlackBerry announce joint project on advanced driver assistance

    Google trying ‘to avoid regulation’ by critiquing Online News Act, feds say

    BP plans major carbon capture project on Texas Gulf Coast

    Best business newsletter in Canada

    Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.

    Exclusive events

    See the bigger picture with reporters and industry experts in subscriber-exclusive events.

    Membership in The Logic Council

    Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.

    Canada's most influential executives and policymakers are reading The Logic

    • CPP Investments
    • Sun Life Financial
    • C100
    • Amazon
    • Telus
    • Mastercard
    • bdc
    • Shopify
    • Rogers
    • RBC
    • General Motors
    • MaRS
    • Government of Canada
    • Uber
    • Loblaw Companies Limited