- GetYourGuide announced it has raised 114 million euros ($133 million). These are the details.
GetYourGuide announced it has raised 114 million euros ($133 million). Including this round of funding, the company has raised over $780 million at a $1 billion valuation. Existing investors SoftBank Vision Fund, Lakestar, Battery Ventures, and Highland Europe also joined the funding round.
This funding round — which was led by Searchlight Capital — was raised as a convertible note. A convertible note is a short-term debt that turns into equity in a future financing round.
In an interview with CNBC, GetYourGuide CEO Johannes Reck said that raising the money through the traditional route for a travel company would have been “impossible” with the current climate.
“This form of financing reflects the fact that our investor base shares the belief that our long-term mission matters, and that leisure travel is a fundamental human need,” said Reck via CNBC. “People will travel again, and when they do, experiences will be what they crave the most.”
And Reck also pointed out that the funding will give GetYourGuide the flexibility to invest in marketing and prepare its products to be ready for future preferences and standards for travelers.