Beginning as an idea by a former Expedia executive, travel fintech Hopper has quickly made a name for itself as the best way to apply fintech tools to bring down the cost of travel. Following a major $170 million Series F fundraise last year and another $175 million a few months later, the company is preparing to bring its unique digital travel marketplace to international markets and social commerce.
As of November 2022, Hopper has seen one more infusion of cash to help it accomplish that goal. In concert with the launch of Capital One Travel, the banking giant has contributed an additional $96 million in equity funding to Hopper’s war chest, bringing the valuation of the company up to $5 billion.
“The reason Hopper has been able to outperform the sector, it’s the revenue growth,” said Hopper President Dakota Smith. “The second part as well is that this B2B business has gotten people pretty excited, going from launching for the first time ever in September 2021 to being larger this year than Hopper’s entire business was just last year.”
The B2B prong of Hopper’s expansion strategy rests in Hopper Cloud, designed to synthesize its existing infrastructure with company solutions and agency content. The expansion of its partnership with Capital One is likely to give Hopper an expanded inroad to younger, digital-first demographics.