WeTravel launched in 2016 as a payment platform to help enterprising travelers and small travel companies collect money when they organize their own travel itineraries for friends or other groups. Now, the company is expanding with fresh seed funding.
According to TechCrunch reports from Friday (Feb. 9), WeTravel closed a $2 million seed funding round from The House Fund and former TubeMogul chief executive Brett Wilson; 500 Startups, Amino Capital and the First Round Capital Dorm Room Fund, as well as Foundation Capital’s Berkeley founder program, also participated in the round, the publication said.
WeTravel enables trip organizers to create a trip page to organize and outline travel itineraries for their groups. The platform then enables them to collect payments for that trip and promote it on social media, email and other channels. On the back end, WeTravel provides financial management solutions like balance due reminders and payment plan capabilities.
Reports said the company landed $15 million in transaction revenue last year and is targeting entrepreneurs and small businesses that organize travel for large groups, like yoga instructors planning retreats or small travel management firms.
In an earlier interview with the Financial Times published in 2015, founder Johannes Koeppel explained the friction he is looking to address.
“Organizers like me always battle with the same pain points before embarking on a trip,” he told the publication. “We all spend countless hours collecting information, such as passport information and meal preferences, and collecting money is socially awkward, since an organizer normally has to do it twice — first for the deposit and then to collect the full amount.”
At the time, WeTravel said it had raised $30,000 from friends and family, and an additional $30,000 from grants, scholarships and competition winnings.
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