Upgrade Pack, a travel app that provides discounted flight and hotel upgrades, has raised a total of £5 million in seed funding after attracting a new £1.5 million private investment. The news comes after the London-based startup onboarded its first banking client, which will roll out the platform to its high-net-worth clients.
The app provides exclusive flight and hotel upgrades as part of a loyalty-based membership. Its closed online marketplace connects directly to airline and hotel APIs, providing users with access to live and exclusive premium seat and room upgrades at a typical saving of 15% to 35%.
“Many investors have said just how compelling and unlike anything else hitting their desks our app is,” said CEO Craig Unsworth.
“That feedback, together with how quickly we’ve secured this funding, just days after opening it up, shows the excitement around what we’re creating. It’s also a really pleasing validation of our strategy of growth through private investment rather than venture capital as we take our platform live this year.”
After the new investment, the startup’s near-term focus will be on expanding its APAC commercial and marketing teams in Singapore and opening its North American operation in Toronto.
Upgrade Back was founded 18 months ago and has already reached a £23 million market cap.