Silicon Canals
TRENDING
  • Mobility
  • AI
  • FinTech
  • Software & SaaS
No Result
View All Result
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdampartner
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdampartner
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact
No Result
View All Result
Silicon Canals
No Result
View All Result

Berlin-based GetYourGuide raises €114M to gear up for the post-pandemic recovery of global tourism

Editorial team by Editorial team
November 2, 2020
in (Crowd)funding, News
0
GetYourGuide
28
SHARES
LinkedInTwitterWhatsAppFacebook

Travel – be it international or domestic; business or leisure – came to a grinding halt as a result of the spread of COVID-19. In the first four months of the year, Europe reportedly witnessed a 44% decline in international tourist arrivals compared to the same period last year. Tourism job losses in Europe in 2020 could be massive – ranging between 14.2M to 29.5M. 

The uncertainty in the sector still remains as COVID-19 cases have started to surge again in Europe. Many countries such as the UK and France have imposed nation-wide lockdown again, to curb the spread. The struggling sector is currently trying to offer all sorts of precautions in order to revive its consumer confidence. However, some travel startups are still proving to be quite resilient. 

 - Partner content -
Cost of software - The Software house
The cost of building software
Marek Gajda, CTO of The Software House, shares his insights on building high-quality...Show More
Marek Gajda, CTO of The Software House, shares his insights on building high-quality software. Show Less
Read more

Travel booking company raises €114M

In a recent development, a Berlin-based online travel booking company GetYourGuide has raised €114M via a convertible loan led by Searchlight Capital. 

Existing investors including SoftBank Vision Fund, KKR, Battery Ventures, Highland Europe, Spark Capital, Lakestar, Heartcore Capital, and NGP Capital, as well as the company’s own founding team and others have also participated in this round.

According to the UN World Tourism Organisation, forecast scenarios indicate that 2021 and 2022 will feature a double-digit rebound for global tourism after the pandemic resolves, traveler confidence increases, and pent-up demand is unlocked.

To capture the market opportunity, GetYourGuide plans to continue to invest in strategic initiatives, develop its digital product and signature Originals experiences, and build out its global inventory to cater to post-pandemic travelers’ latest preferences and hygienic standards.

About GetYourGuide

Berlin-based GetYourGuide operates an online platform for booking tours, attractions, and activities worldwide. The platform sells tours and excursions, activities including cooking classes, and tickets to many tourist attractions. The company also runs its business by curating, selling tickets for running walks, and other exploration experiences for people touring different parts of the world.

The business model for GetYourGuide stipulates that it does not offer its own tours or activities, but rather, acts as a mediator between customers and providers. The service is free for customers, but the provider of the tour has to pay GetYourGuide a percentage of its revenue.

GetYourGuide also offers a customer review system that enables potential customers to assess the quality of tour providers. Additionally, the platform removes providers who consistently get bad reviews from its inventory.

The company was founded in 2009 by Jochen Mattes, Johannes Reck, Martin Sieber, Pascal Mathis, Tao Tao and Tobias Rein.

Travel & Tourism sector gearing for revival

Tourism businesses are looking to resume activities and destinations across Europe, after the pandemic. 

“After the pandemic, people will travel again, and experiencing the sights and culture of the world’s iconic destinations will be what they crave the most,” says Johannes Reck, CEO, and co-founder of GetYourGuide.

He further adds, “As the global tourism industry prepares to rebuild, GetYourGuide’s mission to give the whole world access to incredible experiences matters more than ever.”

According to the company, travelers from over 170 countries have booked more than 45 million tours, activities, and attraction tickets through the platform. The company has a global team of over 550 travel experts and technologists and has offices in 14 countries around the world.

LionTree, Latham & Watkins, and Walder Wyss acted as advisors to GetYourGuide on this transaction.

Previously raised capital

Earlier this year in May, the company had bagged $484M (approx €416M) in its Series E round of funding led by the SoftBank Vision Fund. Co-investors Temasek, Lakestar, Korelya Capital, and Heartcore Capital (formerly Sunstone Capital), as well as existing investors such as Swisscanto Invest by Zurcher Kantonalbank, also participated in this round.

Back in 2017, GetYourGuide secured $75M (approx €64.4M) in its Series D round of funding led by Battery Ventures. Besides, all of the company’s existing venture partners also participated in the round.

Prior to that in 2015, the company had raised $50M (approx €42.9M) in funding led By KKR, a global investment firm. New investor Nokia Growth Partners (NGP), joined this round. The company’s existing investors, Spark Capital, Highland Capital Partners, and Sunstone Capital also invested in the round.

In 2013, the platform had raised $14M (approx €12M) in its Series A round of funding from Spark Capital and Highland Capital Partners Europe. And in 2014, it raised an extension of the same round of $4.5M (approx €3.8M) led by Kees Koolen, (former CEO of Booking.com), and Fritz Demopoulos (founder and former CEO of Qunar.com). Sunstone Capital, a European venture capital firm, also participated in the round.

The company claims to have a global team of over 550 travel experts and technologists. It is headquartered in Berlin, Germany, and has offices in 14 countries around the world.

Image credit: GetYourGuide

close

Want to stay on top of the latest rounds, coolest tech and hottest startups?

Subscribe to our free, daily news blast and stay up-to-date!

Check your inbox or spam folder to confirm your subscription.

 - Partner content -
Nebula CTO Andre Witte
Cloud spend management 😱
Tracking cloud spend can be tricky. Learn from Nebula's CTO Andre Witte how to keep the...Show More
Tracking cloud spend can be tricky. Learn from Nebula's CTO Andre Witte how to keep the costs at bay in 2021. Show Less
Read more
Tags: featuredfundingnews
Share2Tweet7SendShare11

Featured events

07apr10:0012:30FeaturedWorkshop: pr for startupsHow to grow your startup with the help of public relations

Partner content | Work with us

Blue Tulip Awards celebrates International Women’s Day: maximum performance can only come from a diverse team

Future Hamburg Award: Looking for the best startups to forge the city of the future

The Humblebrag launches online course to help emerging leaders amplify their visibility and voice

Blue Tulip Awards announce 5 finalists in the Food & Water and Education & Employment theme

Impact media foundation 5 Media offers grants up to €100,000 per year to drive a sustainable future

Breaking news from Amsterdam | Partner

Amsterdam’s Crisp raises €30M: Here’s what this online-only supermarket plans to do with this capital

Amsterdam-based Tellow’s parent company raises €60.2M: An interview with Thomas Vles, Tellow’s new CEO

Amsterdam-based fast-charging startup Fastned charges itself with €150M through accelerated bookbuild offering

Amsterdam-based Founda Health raises €12.3M to build infrastructure for global healthcare sector; here’s how

  • About Silicon Canals
  • Partner with Silicon Canals
  • Contact us
  • Newsletter
  • Disclaimer
  • Privacy policy
  • Terms & Conditions Silicon Canals

Silicon Canals 2014-2020 | Website: Bright Idiots

No Result
View All Result
  • Home
  • News
    • COVID-19
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Features
    • Promoted content
    • How-to
    • Knowledge & Insights
    • Guest Contributions
    • Scaling-up in Europe
  • Amsterdam
  • Events
  • Newsletter
  • Jobs
  • About
    • Partner with Silicon Canals
    • Team
    • Contact

Silicon Canals 2014-2020 | Website: Bright Idiots

X

This website uses cookies to ensure the best possible experience. We may share this information with our advertising and analytics partners. By clicking 'Accept', you agree to our use of cookies and similar technologies. More info