Online travel agency Kiwi.com Raised € 100 million in convertible bonds from so-called “excellent global institutional investors”.
Based in the Czech Republic, the company offers virtual interlining, allowing travelers to make single bookings on flights that are not officially airline partners, or to include travel by train or bus. To
Kiwi.com says it will use this money to strengthen its position in the global travel industry.
Co-founder and CEO Oliver Dlouhy said platform technology has caused industry turmoil “unseen since low-cost carriers entered the market over 50 years ago” since its inception in 2012. ..
“This investment allows us to continue to build on that innovation and drive future growth to support more customers,” he says.
Kiwi.com plans to harness the new demand for flights by focusing on customer experience, low fares and product innovation.
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According to the company, it employs more than 1,000 people worldwide and sells 70,000 seats daily.
Kiwi.com CFO Iain Wetherall calls this investment a “major opportunity.”
“Even during the pandemic, we didn’t stop investing in product innovation and customer experience. This capital can further accelerate our growth plans,” says Wetheral.
“Kiwi.com and our major shareholder, General Atlantic, are pleased to partner with this prestigious global institutional investor, reflecting the strong recovery of air travel and confidence in market leadership. ”
Early 2021, Kiwi.com attracted attention for not responding to customer complaints Refunds for flights canceled for COVID-19. According to the Better Business Bureau, the company still has more than 300 unanswered or unresolved complaints.
https://www.phocuswire.com/Kiwi-raises-100m-for-innovation Kiwi.com Raises € 100 Million Based on Innovation