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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.

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