Upgrade Pack raises £1.8m in seed follow-on funding to scale into North America and Asia-Pacific.
The latest private funding brings the company total past £5m and values the business at £23m.
Upgrade Pack operates a closed online marketplace that connects directly to airline and hotel APIs to provide discounted and exclusive premium upgrades. The platform is distributed through financial institutions and corporate partners as a loyalty reward or employee benefit.
Richmond-based fintech scaleup Upgrade Pack has secured £1.8m in a fresh round of private investment, bringing its total seed funding to over £5m. The latest injection values the company at £23m and follows its initial expansion into the Asia-Pacific region last year. The capital will be deployed to support commercial growth in APAC and fund entry into North America with a new office in Toronto during the first half of 2020. The business connects directly to airline and hotel booking systems to offer members exclusive rates on premium accommodation and seating.
From the founder
"With our inaugural banking and airline partners confirmed, and unwavering interest from hotels around the world to join our platform, this new capital will help us fully release the commercial potential of Upgrade Pack in 2020 and beyond. Alongside launch, our near-term focus will be on expanding our APAC commercial and marketing teams in Singapore and opening our North American operation in Toronto."
Craig Unsworth
Group CEO at Upgrade Pack
Use of funds
- 01Expand into international markets
- 02Invest in sales and marketing
Categories
About the company
Upgrade Pack
Upgrade Pack provides exclusive flight and hotel upgrades through a loyalty-based membership app.