Vuelo completes a fundraising of 63 million euros to develop a travel platform integrating reservation and financing. The startup is betting on AI to revolutionize the way consumers plan, reserve and pay for their trips.
British fintech Vuelo raises £56 million (€63 million) in a two-part seed round: £6 million in equity led by Backed VC and Play Ventures, and £50 million in asset backed security provided by Viola Credit.
Founded in 2023, the young London company aims to build a fully AI-native travel platform that brings together destination discovery, booking and financing in a single experience. Vuelo says the way consumers plan, book and pay for their trips is “fundamentally flawed.” “At Vuelo, we’re building a fully integrated, AI-native platform that unites discovery, booking, and financing into one seamless experience.”explains the company in a LinkedIn post.
“The AI that makes travel possible”
Vuelo’s offering includes personalized payment plans as well as an intelligent approval engine. An approach that is part of the growing trend of “Buy Now Pay Later” solutions applied to the travel sector. The startup is thus positioning itself in a rapidly expanding segment aimed at removing the financial obstacles to purchasing travel by allowing payments to be spread out.
“Thanks to this fundraising, we are accelerating the realization of our vision: Vuelo becomes the AI assistant that makes travel possible, not only more practical, but truly possible, for those who have always dreamed of traveling but have never been able to realize their financial plans,” explain the CEO of Vuelo, Jasper Dykes.
Jasper Dykes is not a novice in the sector, Phocuswire points out. He previously founded and managed Fly Now Pay Later, a travel payment start-up created in 2015 which had raised significant amounts during several funding rounds before ceasing its lending activities and the integration of new clients at the end of 2023. This new entrepreneurial adventure is therefore based on a Previous travel finance market experience.
Opening photo: wheeljack
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