Evolve Vacation Rental Network, Wheels Up and More in Travel Startup Funding This Week

Each week we create a roundup of travel startups that have received or announced funding that week. The total amount raised this week among companies we tracked was $125.5 million.

Here are two companies that announced they raised funding this week and see previous roundups here.

>>Wheels Up raised $120 million in debt financing from new, undisclosed investors. This comes after the New York City-based startup raised a $115 million Series A round, its total venture funding to date, in September 2015.

Wheels Up is a membership-based private jet company and offers aircraft with guaranteed availability on its private fleet of new Beechcraft King Air 350i and Citation Excel/XLS aircraft. The startup will use its new funding to fuel its U.S. expansion, set up a base of operations in Europe and enhance its technology platform, which offers a member-to-member ride-sharing feature. The startup’s pre-money valuation was $425 million, according to CrunchBase.

>>Evolve Vacation Rental Network raised a $5.5 million Series B round from new investors T. Rowe Price Associates, Allen & Company and Annox Capital bringing the Denver, Colorado-based startup’s total funding to $8.2 million.

The company services both travelers and property owners as a vacation rental booking site and property management system, respectively. Properties are instantly bookable and verified and offers owners guest communication, revenue and marketing products. The company currently services more than 2,000 vacation rental properties in 300 markets across North America and was founded in 2011.