We first partnered with Caravelo in 2020, and today we are delighted to share that we have invested again as a part of a €3.5 million investment led by Samaipata, confirming Caravelo’s position as a leader in subscription solutions for the travel industry.
Companies in the travel industry have always faced pressure due to intense competition and shrinking profit margins. It is a continuous balancing act as travel demand, capacity, and prices are constantly changing.
Airlines, in particular, are realizing that they need to become more skilled in managing the complexity of modern travel and customer demands. However, the industry is still struggling to attract the technical expertise and resources necessary to improve the traveler experience.
Outdated software and traditional ways of thinking cause problems for those looking to modernize their services and operations, and result in a poor experience for travelers. Throughout the industry, most IT teams are already working at full capacity, leaving little room to develop novel in-house solutions at the pace required. There’s also the added cost of maintaining any new solution once it's in place.
Across a variety of industries, subscription pricing options have been proven to help reduce the impact of seasonality and lead to better customer loyalty. Founded in 2015 by Iñaki Uriz (CEO) and José Luis Vilar (COO), Caravelo is the first tech company to provide subscription solutions designed specifically for the travel industry.
By providing the technology infrastructure to easily implement subscription programs, Caravelo helps travel companies increase revenue, customer loyalty, and improve crisis resilience.
The Barcelona-based startup has already helped more than 20 leading airlines implement its solutions, a testament to the strength of its platform and the increasing airline industry interest in subscriptions.
Some of the airlines Caravelo works with include Wizz Air, the first true flight subscription in Europe, FlyArystan, Avianca, Jazeera Airways, and Volaris, the first all-you-can-fly subscription service in Latin America.
Caravelo is on track to double revenue from its subscription solutions by the end of 2023, and will use the new funding to continue growing its team and platform.
Caravelo’s subscription solutions present a major opportunity for the travel industry to evolve with modern day travel demands. We are delighted to continue supporting the team as they make it easier for companies to unlock this type of new revenue opportunity and improve experiences for travelers worldwide.
Learn more about Caravelo here.