FinTech news in WeTravel category

Online tools have changed the game for individuals, but interestingly the same doesn’t apply to groups that want to, say, book a multiday trip or retreat that might involve several hotels, activities and food, which can involve multiple people, multiple locations, potentially hundreds of suppliers (not just hotels and airlines, but restaurants, excursion operators, insurance providers and much more), and the need for flexible paying options — different people paying different amounts, payments in installments and lump sum payments that in turn need to be itemized across different suppliers. WeTravel’s platform covers two main parts of that process: helping those putting the group travel together to organize suppliers and plan everything; and then handling the different aspects of the payment process, whether that involves setting up payments in installments, or working with various currencies and payment methods, and paying out to different suppliers under their individual terms. COVID put paid to the idea that a startup needs to have its team in one place, and today, the majority of the company’s business team and customers are in the U.S., and it’s incorporated there, while the three founders, as well as WeTravel’s product and engineering teams, are all in Amsterdam. Today, a startup called WeTravel — which builds tech for the specific needs of group travel — has raised $27 million, money that it will be using to expand its business on the heels of strong growth in the last year.