UK travel tech startup Upgrade Pack gets ￡1.3 million in funding
Upgrade Pack, an app that provides exclusive flight and hotel upgrades as part of a loyalty-based membership, has announced a new investment of ￡1.3 million, bringing total funds raised since the startup’s launch a year ago to ￡3.4 million.
The recent financing round was led by a British investment firm Havisham Group, with the capital to be used to launch Upgrade Pack’s platform in the coming months as well as to expand its operations to North America and Asia Pacific.
Delivered as an app, Upgrade Pack connects directly to airline and hotel APIs, enabling users to access live, premium seat and room upgrades at a typical saving of 15% to 35% through its closed online marketplace. At the same time, the app is providing banks and corporations with a unique, value-driven form of customer reward.
The latest round, which now values the company at ￡15 million, will see David Brownlow, a prominent entrepreneur, investor and co-founder of Havisham Group, join the Board as the startup’s chairman.
Craig Unsworth, founder and group CEO of Upgrade Pack commented: “Having someone of David’s calibre and experience will be invaluable as we expand into North America, and Asia Pacific this year.”
The startup is planning two new hubs for its global expansion – Toronto for North America and Singapore for the APAC region, with further details on its growth strategy and key management in each region to be revealed in the coming months.