GPI Capital has led a $175 million Series G financing in Hopper, with participation from Glade Brook Capital, WestCap, Goldman Sachs Growth and Accomplice. Hopper is a travel technology company that helps customers book flights and hotels.
Khai Ha, managing partner at GPI Capital, commented “Hopper has created a large market opportunity with unique fintech products for the travel industry that applies an entirely differentiated and attractive business model in which we are excited to work with Fred and the leadership team to accelerate the flywheel. The company emerged from a challenging period for the industry, bolstering its technology capabilities, customer service and its opportunity set with a stronger, durable foundation. We are thrilled to be a partner in this category-defining story.”
“The success of our fintech offerings demonstrate that travelers are willing to pay for flexibility and assurance as they resume traveling again,” said Frederic Lalonde, CEO and co-founder of Hopper. “We feel strongly that our fintech offerings through Hopper Cloud can help supercharge the travel industry’s recovery by introducing a totally unique revenue stream for other brands. In fact, if all travel distribution channels offered our fintech, it could increase the total consumer spend for the sector by $200 billion annually. We are excited to be partnering with GPI and their distinguished track record of supporting iconic consumer internet companies. We welcome Khai to the board as we execute on a roadmap for sustained growth over the long term.”
Kirkland & Ellis LLP and McCarthy Tétrault LLP acted as legal counsel to GPI Capital.