Barcelona-based Caravelo takes off with €3.5 million to expand “all you can fly” subscriptions
Summary
Caravelo, a traveltech company that provides subscription solutions to the travel industry, announced the closing of €3.5 million in a Series A funding round led by Samaipata, with participation from Adara Ventures and other existing investors. Caravelo’s CEO and co-founder, Iñaki Uriz, commented: “This investment will provide Caravelo with the necessary tools to meet the growing demand for its products, allowing us to continue to expand our team and develop our solution.” In addition, José Luis Vilar, CPTO and co-founder, also pointed out that from the company’s commercial perspective, Caravelo’s revenues have been growing steadily by more than 100% YoY for the past 3 years, boasting a valuation 50% higher than last year. Luis Garay, Partner at Samaipata, said: “Caravelo’s product is light years ahead of any other similar solution, being the only one designed to meet the needs of large multinationals. This position as an industry leader and its large customer base makes it a very attractive strategic investment for us.” The growing demand for Caravelo’s solution and success stories from clients such as Alaska and Volaris have also been key to receiving funding from Adara Ventures. Ross Strachan, Principal at Adara Ventures, added: “Caravelo is well positioned to take advantage of the growing popularity of travel subscriptions, and we are proud to continue to support the team in this growth phase.”
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