Swiipr raises GBP 6 million

Wednesday 29 May 2024 08:37 CET | News

UK-based travel paytech firm Swiipr has announced the raise of GBP 6 million in a Series A funding round to drive the company’s development in the industry. 

Following this announcement, Swiipr will continue its strategy of improving customer experience and driving cost efficiency, while also prioritising the process of accelerating its development in the industry. The investment was led by Octopus Ventures, with support from TX Ventures and Solano Partners.

The funding is set to be deployed to develop Swiipr’s strategy, product portfolio, and technology, including investment into R&D, artificial intelligence (AI), and data analytics, while also driving international airline market development and growth. 

In addition, the company will focus on meeting the needs, preferences, and demands of clients and passengers in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well. 

UK-based travel paytech firm Swiipr has announced the raise of GBP 6 million in a Series A funding round to drive the company’s development in the industry.

More information on the announcement

Swiipr’s integrated digital platform, which also includes virtual and physical pre-paid compensation cards and a mobile application, was developed in order to provide airlines with the needed tools for solving several pain points and challenges of the industry, for both themselves and the passengers. The product is expected to remain fully compliant with the latest passenger rights regulations as well, aiming to provide them with an optimised and secure customer experience. 

In addition, the company launched the Swiipr Compensation Card for passengers, which is set to enable airlines to distribute funds directly to clients at the point of disruption, such as denied boarding or lost personal luggage. The firm also launched the Swiipr Welfare Card, which was developed to allow airlines to instantly and securely distribute food and beverage payments when flights are delayed. The cards also deliver instant, safe, and compliant payouts, in a streamlined and digital format that has universal retail compatibility. 

Furthermore, the platform is expected to optimise the manner in which airlines minimise fraud and processing time, as well as boost loyalty through personalised offers and gain critical client retail insights. Partner airlines will also have the possibility to use Swiiprr’s card solutions for operational and crisis transactions for their crew and staff, during trips and delays. 

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Keywords: funding, investment, payments , travel payments, online payments, mobile payments, digital payments, ecommerce
Categories: Payments & Commerce
Companies: Swiipr
Countries: United Kingdom
This article is part of category

Payments & Commerce


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