Posted on October 28, 2019 by staff

Travel tech firm raises £23.4m from major US investor


Travel tech start-up Duffel has raised $30m (£23.4m) from US investor Index Ventures.

The firm was founded by Steve Domin and Tom Bates – both previously of ‘GoCardless’ – and Vincent Pastor.

The platform they have created allows travel agents to directly access the reservation systems of airlines including British Airways, Lufthansa Group and American Airlines.

Using APIs, travel agents can directly check seat reservations, make bookings and access offers multiple different airlines.

The firm said it will use the funding to hire more engineers and bolster its team with the new funds.

It is now targeting expansion in North America and Europe, as this latest funding brings the total raised by the firm to £43.7m since its launch in 2017.

Lead investor Index Ventures have previously backed tech giants Adyen, Dropbox and Slack.

It has also backed fellow UK tech firms Citymapper, JustPark and Secret Escapes.

Steve Domin, co-founder and CEO of Duffel said: “A new breed of online agencies want to access reservation systems quickly and seamlessly.

“By reinventing the underwiring between online agents and airlines we can transform the world of travel booking and reduce barriers to entry for innovative new companies that are offering travellers a whole new way of creating a holiday or trip.”

Jan Hammer, partner at Index Ventures added: “We are incredibly impressed by the Duffel team, who we have supported since the days of their seed funding.

“There is an opportunity here to transform the booking experience for travellers and ease many of the pain points in the industry.

“From the launch of budget airlines to sharing economy businesses like Airbnb, travel has changed and Duffel will provide the tools, built from the ground up, that make the next wave of innovation possible.”