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Hopper Secures $175 Million Growth Investment Led By GPI Capital

Hopper | August 18, 2021

Hopper is announcing that it has completed a $175 million Series G financing led by GPI Capital with participation from Glade Brook Capital, WestCap, Goldman Sachs Growth and Accomplice as the company emerges from the pandemic stronger than ever.

As the travel industry continues to rebound, Hopper has demonstrated significant outperformance with its category-leading mobile-only marketplace, delivering value to customers and supply partners with the company's proprietary suite of fintech offerings. Hopper has over 60 million downloads, consistently ranks as one of the most downloaded travel apps, and now has a larger air travel market share in North America than it did before the pandemic (source: MIDT) along with a growing suite of API-enabled solutions for its B2B initiative. Based on its current run rate, Hopper is pacing towards 330% revenue growth compared to last year and it has already surpassed its pre-pandemic revenue peak from Q1 2020 by over 100%. Product roll-outs have been delivered over an increasingly diversified mix of air, hotel and car rental bookings with the company's fintech offerings now representing a majority of its revenue.

Whether it's pricing volatility or avoiding trip disruptions, Hopper's fintech offerings aim to address every pain point in the customer journey while driving conversion, repeat purchases, and profitability. Earlier in the year, Hopper announced that it was launching a B2B initiative called Hopper Cloud. Through this partnership program, any travel provider – airlines, online travel agencies, meta-search companies, travel agencies, etc. – can integrate and seamlessly distribute Hopper's fintech or agency content. Additionally, Hopper Cloud offers white-label travel portals for companies that aspire to sell travel with a differentiated consumer experience and offering. By leveraging its vast data assets, Hopper takes on all financial risk as its AI is able to dynamically price each fintech offering on a real-time basis at scale.

"The success of our fintech offerings demonstrate that travelers are willing to pay for flexibility and assurance as they resume traveling again," said Frederic Lalonde, CEO and Co-Founder of Hopper. "We feel strongly that our fintech offerings through Hopper Cloud can help supercharge the travel industry's recovery by introducing a totally unique revenue stream for other brands. In fact, if all travel distribution channels offered our fintech, it could increase the total consumer spend for the sector by $200 billion annually. We are excited to be partnering with GPI and their distinguished track record of supporting iconic consumer internet companies. We welcome Khai to the board as we execute on a roadmap for sustained growth over the long term."

Khai Ha, Managing Partner at GPI Capital, commented "Hopper has created a large market opportunity with unique fintech products for the travel industry that applies an entirely differentiated and attractive business model in which we are excited to work with Fred and the leadership team to accelerate the flywheel. The company emerged from a challenging period for the industry, bolstering its technology capabilities, customer service and its opportunity set with a stronger, durable foundation. We are thrilled to be a partner in this category-defining story."

The funds will be used to accelerate the company's growth across several fronts including customer support. Following a year of unprecedented customer support requests, Hopper has scaled its customer support team by 200% and developed several self-serve automation tools so that 60% of customer support requests are now resolved instantly. Hopper is hiring an additional 500 employees, of which 300 of them are focused on customer service. The company is actively looking to acqui-hire other teams in travel, data science, or engineering-heavy startups to introduce new product offerings and fuel international expansion. Hopper has had recent success integrating the teams of Journy and Mowgli, which will accelerate entry into new travel categories such as home rentals and regional expansion to Europe.

Kirkland & Ellis LLP and McCarthy Tétrault LLP acted as legal counsel to GPI Capital.

About Hopper
Hopper is the world's fastest-growing mobile-first travel marketplace. By leveraging massive amounts of data and machine learning, the company has developed several unique fintech solutions that help customers save money and travel better. Through its B2B initiative, Hopper Cloud, the company is syndicating its fintech solutions, infrastructure, and agency content. Whether it's pricing volatility or trip disruptions, Hopper's proprietary suite of fintech solutions address every pain point in the customer journey while driving conversion, repeat purchases, and profitability.

About GPI Capital
GPI Capital is an alternative investment firm specializing in leading growth equity investments in technology, consumer and industrial companies. GPI focuses on identifying high quality businesses looking to accelerate growth and execute on transformational opportunities with an engaged and value-add partner

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Despite significant advances throughout travel and tourism, many aspects of international travel remain encumbered by manual processes that are susceptible to fraud. For many years, aspiring voices from government and industry have advocated a vision of better travel experiences. A vision where outdated paper-based processes are replaced by modern digital processes that include strong identity assurance; and where passengers can travel from anywhere to anywhere
using just their Digital Identity1 But as both the travel and tourism sectors – and the technology that underpins them – have been transformed, it is important for governments to
begin developing their own strategies to deliver safe, secure and seamless travel for all international travelers, regardless of their mode of transport.

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Spotlight

Enabling Safe, Secure and Seamless Travel to Accelerate Border Controls

Despite significant advances throughout travel and tourism, many aspects of international travel remain encumbered by manual processes that are susceptible to fraud. For many years, aspiring voices from government and industry have advocated a vision of better travel experiences. A vision where outdated paper-based processes are replaced by modern digital processes that include strong identity assurance; and where passengers can travel from anywhere to anywhere
using just their Digital Identity1 But as both the travel and tourism sectors – and the technology that underpins them – have been transformed, it is important for governments to
begin developing their own strategies to deliver safe, secure and seamless travel for all international travelers, regardless of their mode of transport.

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Sabre, Conferma Pay and Mastercard Join Forces to Power the Travel Economy with Virtual Cards

Sabre Corporation,Conferma Pay and Mastercard | November 29, 2022

Sabre Corporation (NASDAQ: SABR) a leading software and technology provider that powers the global travel industry, and Conferma Pay, a global fintech firm that specializes in payment technology, announced a new partnership with Mastercard to accelerate the use of virtual cards for business-to-business (B2B) travel payments. Today's announcement builds on Sabre's August 2022 acquisition of Conferma Pay. The collaboration with Mastercard is the next step in advancing Sabre's goal to create an open and independent travel payment ecosystem. Digitization of travel payments with virtual cards helps address the historic challenges associated with B2B leisure and corporate travel payments. The securely generated, single use card numbers provide a link between booking and associated payments to third party suppliers. Travel buyers and suppliers are therefore able to easily track and reconcile payments, as well as benefit from flexible pricing, financing options, and enhanced security through card payment guarantees. "The payments industry is in the midst of a revolution and there is an increased need for travel companies to better manage the whole payment experience, Companies in the travel space – including travel management companies, travel agencies, corporations, issuers and technology partners – need sophisticated solutions and seamless connections. Sabre is taking strategic steps to fulfill the needs of our industry, beginning with the acquisition of Conferma Pay. Now, the new partnership with Mastercard will help Conferma Pay to build new and enhanced digital capabilities in virtual cards, transforming the payment experience for issuers." -Roshan Mendis, Executive Vice President and Chief Commercial Officer, Sabre Travel Solutions. As part of the agreement, Mastercard has agreed to make a minority investment in Conferma Pay, which will continue to operate independently and serve the entire travel industry and beyond. Mastercard's investment in Conferma Pay is subject to customary closing conditions. A combination of experience, technologies and capabilities will accelerate travel payment innovation and drive inclusive and sustainable growth for the sector, said Chris Fendley, Executive Vice President, Enterprise Partnerships at Mastercard. Virtual cards deliver visibility, boost liquidity and increase control over B2B payment flows, which enhance payment strategies and empower organizations across the travel value chain to run, grow and protect their business, which has never been more essential. Conferma Pay connects issuers to more than 700 travel management companies, all the major global distribution systems and more than 100 online booking tools. Conferma Pay is fully integrated with all the major card schemes and serves more than 50 banking partners, who issue Conferma Pay generated virtual cards in nearly 100 currencies. "We've already made significant inroads in the B2B travel space through partnering with Sabre, We are excited about the new investments. This, combined with our existing strong relationships, will enable Conferma Pay to build on our global footprint and be at the forefront of addressing industry challenges and opportunities." -Martin Cowley, interim CEO at Conferma Pay Sabre's Virtual Payments will continue to offer Conferma Pay services – with increased capabilities that help travel buyers, agencies and corporations best support travel customer needs. Sabre Virtual Payments is a unique, secure, automated and integrated end-to-end payment solution designed to simplify and add value to the transactions that TMCs, OTAs, travel agencies, corporations and travel suppliers do every day. Sabre Virtual Payments takes all the capabilities of Conferma Pay and its network of issuers and combines it with seamless integration across Sabre products for -connected travel buyers, agencies and corporations. About Sabre Corporation Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveler experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visit www.sabre.com. About Mastercard (NYSE: MA) Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. www.mastercard.com About Conferma Pay Conferma Pay is a global financial technology company. It designs and integrate virtual payment systems that provide a more efficient, seamless and secure way to pay for businesses. Conferma Pay was born in Manchester in 2005. Since then, it has connected over 700 TMCs, and directly integrates with all the major GDSs and OBTs. Its roots lie in corporate travel payment integration. It enables its payment providers to flow virtual cards into the preferred purchasing process of any business travel buyer. Crucial to this is its network of banking partners, who have issued virtual cards in over 200 countries, in 40 currencies with over 45 commercial banking partners via all major card networks. Its ecosystem continues to expand to meet the growing requirements of its global customer base.

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Thales Reinforces its Border & Travel Offer With the New Multimodal Biometric Pod

Thales | December 07, 2022

The new Thales multimodal biometric pod is an efficient enrolment and identification solution that helps smoothly manage travelers’ border and immigration processes. The combination of ‘iris & face’ capture and recognition capacities enables a fast and secure enrolment and ID verification at borders. The pod features a modern design that perfectly suits the authority’s needs in highly secure environments. The travel industry and border security agencies have recognized the need to improve efficiency and overall traveler experience at border entry and exit points. For years, biometrics has been used by authorities to simplify traveler experiences at borders, speeding up people enrolment and ID checks such as the eGates or Entry-Exit Systems. With the Thales multimodal biometric pod, borders authorities can easily integrate automation into their processes, without compromising on passenger and employee security or on the confidentiality of the data exchanged as the solution offers ‘security and privacy by design’ parameters. Featuring a camera and a high-resolution LCD screen, the biometric pod is able to recognise pre-enrolled travelers’ iris and face at a distance of 0.5m and up to 1.5m with excellent accuracy. Boosted by AI, the solution captures dual iris and face in two seconds, leading to swifter operations and visibly shorter wait times . Thales biometric pods can be set at any borders checkpoint (airports, seaports, etc.) managing both the first traveler enrolment upon arrival and quick biometric checks whenever required (upon territory exit, internal flights etc). “The combination of biometric patterns applied to contactless authentication, is a sought-after solution for many stakeholders to address security, operational and convenience challenges. Thales relies on its in-house biometrics, border and smart travel expertise to design, develop and deliver top tier responsible biometric solutions to meet users’ expectations and authorities’ requirements”, -Youzec Kurp, VP Identity and Biometric Solutions at Thales. About Thales Thales (Euronext Paris: HO) is a global leader in advanced technologies, investing in digital and “deep tech” innovations – connectivity, big data, artificial intelligence, cybersecurity and quantum technologies – to build a confident future crucial for the development of our societies. The Group provides its customers – businesses, organizations and governments – in the defense, aeronautics, space, transport, and digital identity and security domains with solutions, services and products that help them fulfil their critical role, consideration for the individual being the driving force behind all decisions.Thales has 81,000 employees in 68 countries. In 2021, the Group generated sales of €16.2 billion.

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Sabre partners with Trava to digitalize post booking for travel agents

Sabre Corporation and Trava | November 17, 2022

Sabre Corporation (NASDAQ: SABR), a leading software and technology provider that powers the global travel industry, announced a new Premium Solution Partnership with Trava to help automate post-booking processes for travel sellers. Trava is the latest company to partner with Sabre on the Premium Solution Partnership, joining its network, and enabling Sabre-connected travel agencies to find and utilize partner solutions to support their specific business needs and requirements. With this partnership, Trava will deliver its solutions and preferential commercial terms to Sabre customers in North America and EMEA. Trava provides travel companies with a GDS-agnostic 'no-code' process automation solution, allowing Sabre customers to seamlessly create and manage sophisticated post-booking workflows. Trava solutions deliver enhanced efficiency and scalability, typically reducing the manual time by +70% while increasing profit by around $5 per PNR. "In today's dynamic travel marketplace, it is crucial that the entire travel ecosystem is coming together to accelerate recovery, create opportunities for future growth and ensure that the ever-increasing expectations of the end traveler are met and exceeded, We're delighted to welcome Trava as a Premium Solution Partner and together, we can help agencies to streamline their daily manual processes, increase profits and concentrate on creating enhanced traveler experiences." -Marcus Pinedo, Vice President, Partner Solutions for Sabre Travel Solutions. Trava's solution automates vital post-booking processes such as queue management, travel disruptions, refunds, exchanges, unused tickets and ticketing - all supported by powerful revenue boosting as well as client communication tools and self-service features. Travel companies are rethinking the way they manage their operations. Automation is vital to achieve higher levels of efficiency and scalability in the post-booking area, says Maxim Sevastianov, Trava's CEO and Founder. "With travelers expecting a more personal experience than ever before and the entire travel industry facing staffing challenges, automation and self-service are key. With Trava, travel companies free up employee time, enhance their customer experience and at the same time, increase profitability. We're proud to be working in partnership with Sabre and excited about how we can deliver huge value to more Sabre-connected travel companies around the world. About Sabre Corporation   Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveler experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visit www.sabre.com.   About Trava Trava is a travel technology company, focusing on automation of post-booking processes within a travel agency and improvement of their bottom line. The company provides travel companies with a GDS-agnostic process automation solution, enabling them to seamlessly create and manage sophisticated workflows related to post-booking processes in GDS and mid-office systems. Thanks to the intuitive and extremely versatile web interface, requiring minimal technical background, customers can leave the technology to Trava and concentrate on what they do best.

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Sabre, Conferma Pay and Mastercard Join Forces to Power the Travel Economy with Virtual Cards

Sabre Corporation,Conferma Pay and Mastercard | November 29, 2022

Sabre Corporation (NASDAQ: SABR) a leading software and technology provider that powers the global travel industry, and Conferma Pay, a global fintech firm that specializes in payment technology, announced a new partnership with Mastercard to accelerate the use of virtual cards for business-to-business (B2B) travel payments. Today's announcement builds on Sabre's August 2022 acquisition of Conferma Pay. The collaboration with Mastercard is the next step in advancing Sabre's goal to create an open and independent travel payment ecosystem. Digitization of travel payments with virtual cards helps address the historic challenges associated with B2B leisure and corporate travel payments. The securely generated, single use card numbers provide a link between booking and associated payments to third party suppliers. 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As part of the agreement, Mastercard has agreed to make a minority investment in Conferma Pay, which will continue to operate independently and serve the entire travel industry and beyond. Mastercard's investment in Conferma Pay is subject to customary closing conditions. A combination of experience, technologies and capabilities will accelerate travel payment innovation and drive inclusive and sustainable growth for the sector, said Chris Fendley, Executive Vice President, Enterprise Partnerships at Mastercard. Virtual cards deliver visibility, boost liquidity and increase control over B2B payment flows, which enhance payment strategies and empower organizations across the travel value chain to run, grow and protect their business, which has never been more essential. Conferma Pay connects issuers to more than 700 travel management companies, all the major global distribution systems and more than 100 online booking tools. Conferma Pay is fully integrated with all the major card schemes and serves more than 50 banking partners, who issue Conferma Pay generated virtual cards in nearly 100 currencies. "We've already made significant inroads in the B2B travel space through partnering with Sabre, We are excited about the new investments. This, combined with our existing strong relationships, will enable Conferma Pay to build on our global footprint and be at the forefront of addressing industry challenges and opportunities." -Martin Cowley, interim CEO at Conferma Pay Sabre's Virtual Payments will continue to offer Conferma Pay services – with increased capabilities that help travel buyers, agencies and corporations best support travel customer needs. Sabre Virtual Payments is a unique, secure, automated and integrated end-to-end payment solution designed to simplify and add value to the transactions that TMCs, OTAs, travel agencies, corporations and travel suppliers do every day. Sabre Virtual Payments takes all the capabilities of Conferma Pay and its network of issuers and combines it with seamless integration across Sabre products for -connected travel buyers, agencies and corporations. About Sabre Corporation Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveler experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visit www.sabre.com. About Mastercard (NYSE: MA) Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. www.mastercard.com About Conferma Pay Conferma Pay is a global financial technology company. It designs and integrate virtual payment systems that provide a more efficient, seamless and secure way to pay for businesses. Conferma Pay was born in Manchester in 2005. Since then, it has connected over 700 TMCs, and directly integrates with all the major GDSs and OBTs. Its roots lie in corporate travel payment integration. It enables its payment providers to flow virtual cards into the preferred purchasing process of any business travel buyer. Crucial to this is its network of banking partners, who have issued virtual cards in over 200 countries, in 40 currencies with over 45 commercial banking partners via all major card networks. Its ecosystem continues to expand to meet the growing requirements of its global customer base.

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Thales Reinforces its Border & Travel Offer With the New Multimodal Biometric Pod

Thales | December 07, 2022

The new Thales multimodal biometric pod is an efficient enrolment and identification solution that helps smoothly manage travelers’ border and immigration processes. The combination of ‘iris & face’ capture and recognition capacities enables a fast and secure enrolment and ID verification at borders. The pod features a modern design that perfectly suits the authority’s needs in highly secure environments. The travel industry and border security agencies have recognized the need to improve efficiency and overall traveler experience at border entry and exit points. For years, biometrics has been used by authorities to simplify traveler experiences at borders, speeding up people enrolment and ID checks such as the eGates or Entry-Exit Systems. With the Thales multimodal biometric pod, borders authorities can easily integrate automation into their processes, without compromising on passenger and employee security or on the confidentiality of the data exchanged as the solution offers ‘security and privacy by design’ parameters. Featuring a camera and a high-resolution LCD screen, the biometric pod is able to recognise pre-enrolled travelers’ iris and face at a distance of 0.5m and up to 1.5m with excellent accuracy. Boosted by AI, the solution captures dual iris and face in two seconds, leading to swifter operations and visibly shorter wait times . Thales biometric pods can be set at any borders checkpoint (airports, seaports, etc.) managing both the first traveler enrolment upon arrival and quick biometric checks whenever required (upon territory exit, internal flights etc). “The combination of biometric patterns applied to contactless authentication, is a sought-after solution for many stakeholders to address security, operational and convenience challenges. Thales relies on its in-house biometrics, border and smart travel expertise to design, develop and deliver top tier responsible biometric solutions to meet users’ expectations and authorities’ requirements”, -Youzec Kurp, VP Identity and Biometric Solutions at Thales. About Thales Thales (Euronext Paris: HO) is a global leader in advanced technologies, investing in digital and “deep tech” innovations – connectivity, big data, artificial intelligence, cybersecurity and quantum technologies – to build a confident future crucial for the development of our societies. The Group provides its customers – businesses, organizations and governments – in the defense, aeronautics, space, transport, and digital identity and security domains with solutions, services and products that help them fulfil their critical role, consideration for the individual being the driving force behind all decisions.Thales has 81,000 employees in 68 countries. In 2021, the Group generated sales of €16.2 billion.

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TRAVEL TECHNOLOGY,COMMERCIAL TRAVEL

Sabre partners with Trava to digitalize post booking for travel agents

Sabre Corporation and Trava | November 17, 2022

Sabre Corporation (NASDAQ: SABR), a leading software and technology provider that powers the global travel industry, announced a new Premium Solution Partnership with Trava to help automate post-booking processes for travel sellers. Trava is the latest company to partner with Sabre on the Premium Solution Partnership, joining its network, and enabling Sabre-connected travel agencies to find and utilize partner solutions to support their specific business needs and requirements. With this partnership, Trava will deliver its solutions and preferential commercial terms to Sabre customers in North America and EMEA. Trava provides travel companies with a GDS-agnostic 'no-code' process automation solution, allowing Sabre customers to seamlessly create and manage sophisticated post-booking workflows. Trava solutions deliver enhanced efficiency and scalability, typically reducing the manual time by +70% while increasing profit by around $5 per PNR. "In today's dynamic travel marketplace, it is crucial that the entire travel ecosystem is coming together to accelerate recovery, create opportunities for future growth and ensure that the ever-increasing expectations of the end traveler are met and exceeded, We're delighted to welcome Trava as a Premium Solution Partner and together, we can help agencies to streamline their daily manual processes, increase profits and concentrate on creating enhanced traveler experiences." -Marcus Pinedo, Vice President, Partner Solutions for Sabre Travel Solutions. Trava's solution automates vital post-booking processes such as queue management, travel disruptions, refunds, exchanges, unused tickets and ticketing - all supported by powerful revenue boosting as well as client communication tools and self-service features. Travel companies are rethinking the way they manage their operations. Automation is vital to achieve higher levels of efficiency and scalability in the post-booking area, says Maxim Sevastianov, Trava's CEO and Founder. "With travelers expecting a more personal experience than ever before and the entire travel industry facing staffing challenges, automation and self-service are key. With Trava, travel companies free up employee time, enhance their customer experience and at the same time, increase profitability. We're proud to be working in partnership with Sabre and excited about how we can deliver huge value to more Sabre-connected travel companies around the world. About Sabre Corporation   Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveler experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visit www.sabre.com.   About Trava Trava is a travel technology company, focusing on automation of post-booking processes within a travel agency and improvement of their bottom line. The company provides travel companies with a GDS-agnostic process automation solution, enabling them to seamlessly create and manage sophisticated workflows related to post-booking processes in GDS and mid-office systems. Thanks to the intuitive and extremely versatile web interface, requiring minimal technical background, customers can leave the technology to Trava and concentrate on what they do best.

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