VC fundraising for online travel companies
Capital into online travel rebuilt from the pandemic trough into supply-side aggregators, vertical OTAs and software serving suppliers - not into another horizontal booking play. Investors are cautious on businesses whose growth depends on paid-search inventory dominated by major OTAs and metasearch, and they price that concentration into terms.
The active investor base is travel-focused funds, consumer growth investors with marketplace conviction, mobility and hospitality specialists, and the strategic venture and corp dev arms of Booking Holdings, Expedia and Airbnb, all of which take selective positions in supply-side platforms and vertical OTAs before considering acquisition. Hospitality groups occasionally invest through dedicated vehicles. Flow has direct relationships across the specialists and the strategic arms.
Flow has experience running VC fundraising processes for online travel companies across OTAs and booking platforms, tours and activities marketplaces, business travel platforms, vacation rental operators and travel software providers. Our extensive investor network spans early-stage seed funds, growth-stage investors, and strategic and corporate VC arms.
"Online travel" KPIs VC investors look at
The metrics venture investors benchmark before pricing a round - in diligence, at the IC table, on the term sheet.
Gross bookings
Net revenue
Take rate
Bookings per user
Repeat booking rate
Cancellation rate
Average booking value
CAC payback
Organic traffic share
Supply concentration
Payment processing cost
Contribution margin / booking
Online travel valuations in May 2026
Public online travel comps trade at 1.7x EV/Revenue. Median revenue multiple across online travel VC rounds was 17x in the last 12 months.
1.7x
Median EV/Revenue as of May 2026 for public online travel companies
4.7x
Booking Holdings is the highest valued public online travel company based on EV/Revenue (excluding outliers)
1.4x
Median EV/Revenue across online travel M&A deals in the last 12 months
17x
Median EV/Revenue across online travel VC rounds in the last 12 months
Key recent online travel VC rounds
$122M Undisclosed stage raised by Stay22 was the largest online travel VC round completed in the last six months.
See all online travel VC rounds| Logo | HQ | Description | Investors | |||||
|---|---|---|---|---|---|---|---|---|
Feb-26 | Stay22 |  | Stay22 is a New York-headquartered travel tech company partnering with over 3,000 global publishers, including Booking.com and Expedia. It drives incremental revenue through monetizable lodging listings, generating $500 million in gross merchandise value in 2024. The platform offers non-disruptive integrations optimizing revenue per mille for online travel agencies and content sites. Stay22 unlocks millions of hotel and short-term rental inventories accessible via widgets and APIs. | Summit Partners | $122M | - | Undisclosed stage | |
Feb-26 | OneDome |  | OneDome is a London-headquartered online property transaction platform enabling end-to-end home buying and selling in the UK. Launched in 2019 following the acquisition of Nethouseprices.com, it integrated CMME Mortgages in 2022, one of the UK's largest brokers. The platform attracts nearly 3 million monthly visits, generating four property inquiries per minute, and connects users with agents, conveyancers, and lenders centrally. | Channel 4 Ventures | $25M | - | Series C | |
Dec-25 | BluAge |  | BluAge is a Tokyo-based developer of Canary, a mobile application streamlining room and accommodation searches for users. | Angel BridgeMizuho Capital+1 | $19M | - | Series C | |
Apr-26 | Lobster Travel |  | Lobster Travel is a Chinese AI company handling travel bookings and planning. | - | $15M | - | Angel | |
Feb-26 | Wheel the World |  | Wheel the World is a San Francisco-based accessible travel platform providing verified accessibility data, personalized itineraries, and services for people with disabilities. It partners with hotels, tours, and airlines to tap a $120 billion inclusive tourism market worldwide. | Enable VenturesErik Blachford+7 | $11M | - | Series A | |
Mar-26 | D | Dongyouji | Dongyouji operates a travel service platform for Chinese tourists traveling abroad. | BY Block Foundation | $9.0M | - | Angel | |
Mar-26 | Vuelo | | Vuelo is a travel platform for planning, booking, and payments. | BACKED VCPlay Ventures | $8.0M | - | Seed | |
Jan-26 | WanderOn |  | WanderOn is a backpacking travel community organizing group tours, customized packages, and leisure trips to diverse destinations since 2016. | Client AssociatesDSG Consumer Partners | $5.9M | - | Series A | |
Dec-25 | Volz |  | Volz is an online travel platform focused on flight bookings via its mobile app at volz.app. Users access direct reservations with airlines across Europe, including low-cost carriers like Ryanair and Wizz Air. The service operates from Tallinn, Estonia, and supports multi-city itineraries alongside real-time price comparisons. Launched in 2022, Volz integrates payment options such as Apple Pay and Google Pay for instant confirmations. Its English-language interface targets international travelers seeking efficient booking processes without intermediaries. | GIBATell Group | $5.0M | - | Series A | |
Nov-25 | byFood.com | | byFood.com is a Tokyo-based platform curating restaurant reservations and food experiences for tourists in Japan. It connects users to over 5,000 venues including Michelin-starred sushi counters, kaiseki ryotei, and street food tours in cities like Tokyo, Osaka, and Kyoto. Experiences range from private chef teppanyaki sessions to ramen-making workshops. Through its Food for Happiness initiative, every booking funds meals for children via partnerships with Japanese orphanages. Founded in 2014, byFood serves 1 million travelers annually across 20 prefectures. | - | $4.1M | - | Series B | |
Feb-26 | Daypass.com |  | Daypass.com is a global travel-tech platform enabling daytime bookings for hotel pools, resorts, beach clubs, and curated experiences without overnight stays. | - | $2.0M | - | Seed | |
Jan-26 | PRM Assist |  | PRM Assist is a platform facilitating bookings and management of airport assistance services for passengers with special needs. | Enterprise IrelandPaul McKeon | $600K | - | Seed | |
Jan-26 | Capture a Trip | | Capture a Trip is an Indian travel platform curating customized packages. It aggregates experiences, accommodations, and services for personalized journeys. | Kunal BahlMohit Yadav | $100K | $1.6M | Undisclosed stage | |
Feb-26 | Wandvia | Wandvia is an AI-driven corporate travel platform deploying autonomous agents to craft complete itineraries matching goals, budgets, and preferences in minutes. | - | $0 | - | Angel | ||
May-26 | World Travel Holdings | | World Travel Holdings sells vacations through owned brands like CruisesOnly, Cruise411, and Vacation Outlet. The company runs travel programs for partners including Priceline, Orbitz, BJ’s, JetBlue, American Airlines, and Marriott. It has served millions of customers for more than 25 years. | Citation Capital | - | - | Undisclosed stage |
VC investors active in online travel
Techstars is the most active VC investor across online travel, having invested in 6 startups in the last three years.
See all online travel VCs| Logo | HQ | Description | Key portfolio | |||
|---|---|---|---|---|---|---|
Techstars | | Techstars is a Boulder-headquartered global network founded in 2006 that operates over 50 accelerators annually across 15 countries. It invests $120,000 in exchange for 6 percent equity in 500 startups yearly, spanning AI, sustainability, and healthcare. The firm manages a venture fund deploying capital into alumni companies and runs corporate partnerships with brands like Amazon and Barclays for innovation pilots. Techstars portfolio exceeds 3,500 companies valued over $15 billion collectively. | TRAVARASCoordleVamos+2 | 6 | Pre-seed | |
Antler |  | Antler is a Singapore-headquartered global venture capital firm founded in 2017 that invests in early-stage tech companies. It operates day-zero programs in 27 cities, backing 1,000+ startups with $100 million deployed annually across AI, fintech, and sustainability. Portfolio includes unicorns like Hold One and Tiqets, with a network of 3,000 mentors and 700+ investors for follow-ons. | AiraloYaayItair+2 | 5 | Pre-seed | |
FasterCapital |  | FasterCapital is an online incubator and accelerator connecting startups worldwide with angel investors, VCs, and micro-VCs through equity-for-services models in technical development and business growth. The platform offers mentorship, pitch deck reviews, and funding matchmaking for over 10,000 entrepreneurs annually. FasterCapital facilitates deals in sectors like fintech, healthtech, and edtech from its global network. | JAIBusNStayWookco+2 | 4 | Pre-seed | |
Peak XV Partners | | Peak XV Partners is a venture capital and growth investment firm managing over $9 billion across 13 funds with stakes in more than 400 companies throughout India, Southeast Asia, and beyond. Formerly Sequoia Capital India and SEA, the Singapore-headquartered firm supports startups from seed to late stages. Approximately 40 portfolio companies have surpassed $100 million in annual revenue, spanning fintech, e-commerce, and enterprise software. | AiraloAirial TravelSlice+2 | 3 | Seed | |
Unicorn India Ventures | | Unicorn India Ventures is an early-stage venture fund registered in India investing in technology businesses across verticals. It deploys seed capital from 50 lacs to 10 crores INR in sectors like fintech and enterprise software. The Mumbai-based fund supports entrepreneurs disrupting traditional industries. Portfolio companies access a network of mentors for scaling. Established in 2018, Unicorn India Ventures commits to follow-on rounds. | Stamp My VisaForeignAdmitsVervesemi+2 | 3 | Pre-seed | |
Mizuho Capital | | Mizuho Capital is a Tokyo-headquartered venture capital firm affiliated with Mizuho Bank. The firm specializes in investments within information technology and biotechnology sectors, backing companies from seed to growth stages. It manages funds dedicated to Japanese and Asian startups, with a track record of supporting firms that achieve public listings on Tokyo Stock Exchange and other markets. Mizuho Capital emerged from mergers involving subsidiaries of major Japanese banks including Fuji Bank and Industrial Bank of Japan, providing deep financial sector insights to its portfolio. | BluAgeStaywayJapan DX+2 | 3 | Series A | |
Plus Venture Capital | | Plus Venture Capital is a Dubai-headquartered early-stage fund investing in MENA tech startups from seed to Series A. Portfolio spans fintech like Tabby and healthtech such as Altibbi, with 20 investments across UAE, Saudi Arabia, and Egypt. It provides follow-on funding up to $5 million per deal alongside mentorship from Google and Microsoft alumni. Active since 2016, Plus VC manages $100 million across two funds targeting B2B SaaS. | estaieDHARMASiin+1 | 3 | Pre-seed | |
Plug and Play | | Plug and Play is a Sunnyvale-headquartered venture builder founded in 2006 that operates accelerator programs in 40 industries including fintech, insurtech, and mobility across 50 global offices. It connects over 3,000 startups annually with partners like Google, Visa, and Mercedes-Benz through demo days and corporate innovation challenges. The platform invests in seed and Series A rounds while providing co-working spaces in hubs from Silicon Valley to Singapore. | Winalistpoint.meHotelverse+2 | 3 | Seed | |
PAR Capital Management | | PAR Capital Management is a Boston-headquartered private investment firm pursuing long-term opportunities in public and private markets. The Massachusetts-based company allocates capital across sectors including technology, consumer, and financial services, employing fundamental analysis for concentrated positions. | point.me@hotelFlight Science+1 | 3 | Seed | |
Thayer Ventures | | Thayer Ventures is a Washington D.C.-based venture capital firm exclusively targeting travel, hospitality, and logistics technology startups. Founded in 2011 by Expedia alumni, it capitalizes on the $10 trillion global travel market disrupted by digital platforms and consumer shifts. The firm has invested in over 50 companies, including corporate travel platforms like TripActions, hotel management systems from Cloudbeds, and experiential booking services such as GetYourGuide and Klook. With additional offices in New York and Los Angeles, Thayer Ventures supports portfolio growth through industry expertise in revenue management, distribution, and guest experience technologies. | Safarapoint.meSlang+2 | 3 | Series A |
Founders and investors we've worked with
We've supported winning builders across online travel and beyond.
Orka
We advised Elysian Fields on its investment into Orka, a Reykjavik-based portfolio of online consumer lending platforms, supporting deal structuring and growth-capital deployment in the Icelandic fintech market.
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GoTrendier
We advised GoTrendier, the leading second-hand fashion marketplace in LatAm (Mexico and Colombia), on its $14m Series B fundraise led by IDB.
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Ziik
We acted as fundraising advisor to Ziik, a Copenhagen-based all-in-one social intranet and internal communication SaaS platform, on its growth funding round.
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Sentryc
We led the capital raising process for Sentryc, a Berlin-based AI-driven brand protection and IP software provider, on its growth round led by Seventure Partners.
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Krita
We advised Swiss investor Elysian Fields on its growth investment into Krita, the leading factoring platform in the Icelandic market.
See moreRecent VC fundraising track record
See our VC fundraising experience across online travel and beyond.
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