Ten months in the past London startup hinted that it will be “a brand new approach to e-book journey on-line, aiming on the reserving expertise ‘finish to finish’”, introduced a wholesome $4.7M funding spherical, however not a lot else.
In the present day it goes additional, saying a $21.5m in Collection A funding from VC large Benchmark, which additionally backed Snap, Twitter and Uber. Benchmark is joined by Blossom Capital and Index Ventures, who participated in Duffel’s $4.7m seed spherical final 12 months.
With this information, we no less than get a little bit extra element. It will likely be a B2B providing, permitting particular person journey brokers to massive on-line journey administration corporations and tour operators to supply a “seamless journey expertise” to their finish clients, making the reserving expertise easier, quicker and cheaper.
Is that this a brand new Sabre? Steve Domin, co-founder and CEO of Duffel, hints that it’s: “The journey business is underpinned by archaic software program and processes which might be basically prohibitive for the trendy day traveler. We’re reinventing the underwiring between on-line brokers and the suppliers – airways, resorts, transport operators – in a lot the identical manner that the funds world is altering for retailers, due to instruments like Adyen and Stripe.”
In different phrases, Duffel seems to be constructing a brand new software program stack for journey, in the identical manner that problem banks began from scratch to make themselves extra agile than the laggard, incumbent banks.
Duffel was one of many Y Combinator S18 cohort and have put collectively a group drawn from their alumni corporations together with GoCardless, Gitlab and Turo. It plans to launch this Autumn.
Chetan Puttagunta, basic companion at Benchmark, mentioned: “Now we have been watching Duffel from a distance and we’re extremely excited by the chance it has to create one thing useful for purchasers and journey suppliers alike. Duffel is targeted on offering a greater reserving expertise by constructing a platform that’s straightforward to make use of with deep performance.”
Ophelia Brown, founding father of Blossom Capital, mentioned: “Duffel has been clear on its imaginative and prescient to enhance the journey expertise for everybody from day one. This can be a nice instance of the best way that European founders have gotten extra formidable than ever earlier than.”
The market is ready with baited-breath to search out out if Duffel’s stellar fund-raising capabilities can ultimately match the claims made for the product.