Swiipr, a travel paytech company, has raised $7.6 mn in funding to advance its platform for airline disruption payments, led by Octopus Ventures and supported by TX Ventures and Solano Partners.
The funds will support research and development, product enhancements, and international expansion to more airlines.
Swiipr aims to replace outdated airline compensation methods like paper vouchers, cash, and bank transfers. Instead, its platform provides virtual and prepaid compensation cards, allowing direct access to funds for lost baggage and flight delay expenses.
Swiipr’s innovative approach exemplifies how technology can streamline processes and improve customer experiences in the travel insurance industry.
Founded to address inefficiencies in the airline industry, Swiipr aims to reduce the costs and stress associated with outdated compensation systems.
Its platform is currently utilized by 26 airlines in 70 countries, showcasing its widespread adoption and effectiveness.
Legacy compensation systems are costly and stressful. In the digital age, this solution addresses these issues effectively.
Legacy compensation systems are unfit for purpose. Not only do they cost an airline billions of dollars every year, but they also exacerbate disruption and stress
Tara Spielhagen, co-founder and CEO of Swiipr
“It doesn’t need to be this way in a digital age, and we are proud to have developed a new solution that solves so many pain points.”
Swiipr is a travel paytech company specializing in modernizing airline disruption payments. The company focuses on replacing traditional compensation methods, such as paper vouchers, cash, and bank transfers, with more efficient solutions.
Swiipr offers virtual and prepaid compensation cards, enabling passengers to access funds directly for lost baggage and expenses caused by flight delays.
