Travelshift Secures $10 Million USD Capital Raise

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August 30, 2023 14:50 Korea Standard Time
  • David Byron Stewart, the CEO of Travelshift and former Head of Global Private Equity at State Street...

    David Byron Stewart, the CEO of Travelshift and former Head of Global Private Equity at State Street Global Advisors (Photo: Business Wire)

REYKJAVIK, ICELAND--(Business Wire / Korea Newswire)--Travelshift, the leading online travel agency (OTA) in Iceland has raised $10 million USD of capital from existing shareholders, raising the total funding amount to $30 million USD.

The financing represents a vote of confidence from Travelshift’s current investors in the company’s growth trajectory and future potential. According to Harshal Chaudhari, President and Chief Investment Officer at GE Investment Management Co., “We are proud to continue supporting Travelshift’s remarkable journey. The company’s unwavering commitment to innovation and customer satisfaction has been instrumental in its success, and we firmly believe in its potential to further disrupt the leisure travel industry.”

The latest funding round follows Travelshift’s recent launch of Guide to Europe, a travel platform that solves the Connected Trip for the European leisure travel market. This innovative service, which is powered by AI, allows travelers to book everything they need in one checkout and manage their entire journey in one app. It also gives travelers access to thousands of itineraries that have been optimized with AI, with what is now the world’s largest selection of vacation packages in Europe.

“We are thrilled to receive the continued support and trust from our existing shareholders,” said David Stewart, CEO of Travelshift. “This financing round enables us to accelerate our growth initiatives and continue to build the next generation of travel through innovative use and application of AI to deliver personalized and seamless travel experiences.”

Travelshift would like to express its sincere gratitude to its dedicated team, loyal customers, and steadfast shareholders for their continued support and belief in the company’s vision.

About Travelshift:

Travelshift is an leading Icelandic online travel agency (OTA) that specializes in providing technology-driven travel solutions. With over a decade of experience in the industry, Travelshift is committed to revolutionizing how people travel, offering innovative services and exceptional customer experiences.

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David Stewart
Chief Executive Officer
+354 791 9394

This is a news release distributed by Korea Newswire on behalf of this company.