German traveltech startup Tourlane raises €16.8M Series C extension
Berlin-based traveltech startup Tourlane has raised an additional €16.8 million as an extension of Series C funding round, closing it at €56 million. Existing investors Sequoia Capital, Spark Capital, DN Capital, and HV Capital, as well as both founders, also joined the round, EU-Startups reports.
Founded in 2016 by Julian Stiefel and Julian Weselek, Tourlane develops a planning and booking platform for multi-day tours, offering customized experiences and expert travel consulting. It helps the travellers to save their time and efforts by booking flights, accommodations, tours, activities, and transfer options in one place. Currently, the company works with providers in more than 50 destinations worldwide.
As reported by TechCrunch, in March 2020, Tourlane experienced a 30% higher surge of inbound customer service queries as people wanted to cancel or rebook their trips. A pandemic caused not just a loss of the company’s revenue, but also big operational costs in cases of refund. So the new investment will be used to stabilize its financial situation.
“We deeply believe that this pandemic is an opportunity to rethink travel, and will be a catalyst for the Tourlane business model,” Stiefel claimed. “With this latest funding round, we are continuing to invest in our technology and product experience, while at the same time ensuring maximum flexibility for our customers.”