Fairlyne Raises $3 Million for Travel Ticket Resale Platform: Startup Funding Roundup

Six travel tech startups reported raising nearly $49 million this week.

>>Fairlyne, a platform reselling travel tickets, has raised $3 million in seed funding. The round was led by Speedinvest with participation from Evolem, Kima Ventures, FJ Lab, and several angel investors. 

The France-based tool, which is integrated into the tech platforms of client travel companies, allows consumers to resell otherwise non-refundable tickets. While operators in industries like sports and entertainment have been able to offer resale services, travel companies have not because of a lack of technology, the startup said. 

Besides resale, Fairlyne said its tool can help companies more easily sell unused tickets.

The French low-cost railway operator Ouigo has already been using the platform, allowing consumers to resell tickets directly through the Ouigo website and app. The airline Royal Air Maroc will begin using it in the next several months.

“We realized that travel customers were willing to resell their bookings and meanwhile that no-shows represent a lucrative opportunity for travel operators — if they could offer customers who couldn’t make it the chance to resell in advance,” said Gilles de Richemond, Fairlyne co-founder and CEO, in a statement. “So, we built a platform, which can be integrated into any operators’ consumer-facing channels providing customers with a seamless resale experience. The incremental revenue from no-shows can be significant.”

The funding will go toward further developing the platform, adding new clients, and expanding into new markets including the U.S.

>>HyperGuest, a platform for connecting hotels directly with sellers, has raised $23 million in series A funding. The round was led by Lightspeed Venture Partners, with participation from Viola Ventures, Altshuler Shaham, and Thayer Ventures.

Tel Aviv-based HyperGuest said its platform enables hotels and travel suppliers to connect directly with travel sellers, such as online travel agencies, without going through intermediary distribution channels. 

Avoiding intermediaries and their fees is meant to give sellers and suppliers higher margins and more control over their business. 

The platform has been used by more than 25,000 hotels, the startup said. The investment will go toward accelerating growth and strengthening the tech product. 

>>Topkey, a financial operating system for vacation rental and hospitality property management companies, has raised $5.2 million in seed funding. 

The round was led by Felicis, with participation from a16z, Y Combinator, Assurant Ventures, Grit Partners, Joe Montana’s Liquid2 Ventures, Derive Ventures, Grit Partners, Kindergarten Ventures, and angel investors including Andrew Kitchell of Wheelhouse. 

The startup has now raised a total of $6.9 million. 

The Nashville-based startup said its platform can help vacation rental managers cut way down on the time it takes to close the books each month by streamlining operations into a single place. It also has an automated expense management system, meant to simplify tracking, that pairs with bank accounts and Visa credit cards. 

Jonathan Sukhia, Topkey co-founder, said in a statement that property management companies typically spend several days each month finalizing finances, and inefficient expense tracking and inconsistent reporting can cost property managers nearly $175,000 per year.

“In an industry where average margins are typically 10%-15%, this is a massive drain on profitability. Our goal is to ensure not a single dollar is left on the table,” Sukhia stated.

The funding will go toward business growth and product development. The company plans to continue hiring and establish a headquarters in Nashville. 

>>NeoKe has raised $1.5 million (€1.3 million) in pre-seed funding from Dreamcraft Ventures, ff Venture Capital, Gharage, and Plug and Play Tech Center.

The Amsterdam-based startup offers a data sharing and authentication platform for use between travelers and travel service providers. The startup said it uses blockchain and cloud-based technologies to securely store and share verified identification information, meant to give travelers control over their data. 

>>Hardt Hyperloop has raised $13.5 million (€12 million) from a group of private and public investments that began late last year. The startup is developing a hyperloop system, which is a visionary ultra-high-speed train for passengers and goods. 

The latest funding comes from the European Innovation Council Fund, Dutch regional investment funds InnovationQuarter and Investment Fund Groningen, and private backers including Peter Goedvolk of First Dutch in partnership with Platform Zero. The new investments, combined with investments last year from groups including POSCO International and Urban Impact Ventures, make the reported total.

Hardt Hyperloop has built a facility and vehicle for testing that’s planned to begin in 2024.

>>Boddy, a platform to connect travelers with wellness operators, has raised $2.2 million in seed funding from Li Wu, a health research scientist and founder of digital health care company Virtusan.

The Zurich-based startup said users can digitally search and book access to gyms, classes, massages, and more in different destinations.

Company	Stage	Lead	Raise
Fairlyne	Seed	Speedinvest	$3 million
HyperGuest	Series A	Lightspeed Venture Partners	$23 million
Topkey	Seed	Felicis	$5.2 million
NeoKe	Pre-Seed	Unspecified	$1.5 million
Hardt Hyperloop	Unspecified	Unspecified	$13.5 million
Boddy	Seed	Li Wu	$2.2 million

Skift Cheat Sheet

Seed capital is money used to start a business, often led by angel investors and friends or family.

Series A financing is typically drawn from venture capitalists. The round aims to help a startup’s founders make sure that their product is something that customers truly want to buy.

Series B financing is mainly about venture capitalist firms helping a company grow faster. These fundraising rounds can assist in recruiting skilled workers and developing cost-effective marketing.

Series C financing is ordinarily about helping a company expand, such as through acquisitions. In addition to VCs, hedge funds, investment banks, and private equity firms often participate.

Series D, E, and, beyond These mainly mature businesses and the funding round may help a company prepare to go public or be acquired. A variety of types of private investors might participate.