onlinetours
47 days ago
 

OnlineTours raises $7 million to expand package tours for Russians

Russian online travel agency OnlineTours, a package specialist in Russia, has completed a capital raise of $7 million.

The latest tranche of funding comes via Global Founders Capital, Holtzbrinck Ventures, InVenture Partners and E.Ventures.

InVenture was an earlier investor in the company. The new round brings the total amount put into the company reaching $9 million.

The company, which launched in early-2012, claims to have 90% of all available tour operators in Russian on its platform.

With ambitions to become the leading online travel service in Russia, OnlineTours says it will use the latest raise to develop its core technology platform and boost market share.

The injection from Holtzbrinck since ex-Kayak managing director for Europe, Christian Saller, joined the company in 2013. OnlineTours joins the likes of TrustYou on its roster of investments.

Saller says:

“The Russian package travel market is starting to shift online, which presents a massive opportunity. The OnlineTours team has demonstrated that they have the deep local market knowledge necessary to successfully address this market.”

InVenture Partners has also invested in hotel search site Fogg (later bought by Skyscanner), GetGoing and GetTaxi, whilst E.Ventures can count social travel site Trippy and Brazilian OTA Viajanet on its portfolio.

Rival in the packages market, Travelata, also recently bagged $7 million in Series B funding saying it planned to use the funds for expansion to the Russian regions.

 
 
Kevin May

About the Writer :: Kevin May

Kevin May is editor and a co-founder of Tnooz. He was previously editor of UK-based magazine Travolution for nearly four years and web editor of Media Week UK from 2003 to 2005.

He has also worked in regional newspapers (Essex Enquirer) and started his career in journalism at the Police Gazette at New Scotland Yard in London. He has a degree in criminology and a postgraduate diploma in magazine journalism.

 

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