Upgrade Pack reaches $4.3 million private investment, and announces Asia Pacific expansion plans
• New $1.5 million private financing brings London FinTech’s total funding to $4.3 million as it closes latest seed round
• Founders announce forthcoming Asia Pacific expansion as company’s next phase of growth
• Launching imminently, the scaleup’s first-to-market app, provides exclusive discounts on flight and hotel upgrades as part of a loyalty-based membership
7 August, 2019 – UK FinTech scaleup Upgrade Pack has announced closing of a new $1.5 million private investment round, bringing total funds raised for its exclusive travel upgrades platform to $4.3 million since launching 12 months ago.
The raise continues the company’s strategy of growth through private investment rather than venture capital as it looks to transform the market for flight and hotel upgrades. Delivered as an app, Upgrade Pack connects directly to airline and hotel APIs, allowing users to access live, exclusively discounted flight and hotel upgrades at average discounts of between 15% and 35% through its closed online marketplace.
The latest round, which values the company at $18 million, will help drive Upgrade Pack’s expansion into Asia-Pacific as it rolls out its service to clients, partners, and users worldwide.
The move will see the company have a presence in both Singapore and Hong Kong, with further details on key management to be revealed in the months ahead.
Company Founder and Group CEO Craig Unsworth commented: “As we prepare to go live with our launch clients imminently, we’re excited by the interest and appetite in the Asia Pacific region for what we are bringing to market. Myself and my co-founder [pictured], are visiting Singapore and Hong Kong this month and look forward to further demonstrating how we can help client partners to differentiate in an increasingly competitive landscape for customer loyalty.”
Upgrade Pack is exclusively available through its network of client partners which includes leading banks, credit card issuers and businesses who adopt the platform as a reward for their most valued customers.
Upgrade Pack is transforming the way upgrades are attained by the most valued customers and employees of the world’s most innovative companies. Upgrade Pack’s proprietary ‘closed marketplace’ connects travellers with exclusive, always-discounted premium flight and hotel upgrades in a simple, easy-to-use app. Upgrade Pack is the UK’s first tech company to give all employees share options through its Enterprise Management Incentive (EMI) scheme.
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