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.
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.
“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 is a senior editor and one of the co-founders at Tnooz. He was previously editor of UK-based magazine Travolution and web editor of Media Week UK from 2003 to 2005.
He has 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, a postgraduate diploma in magazine journalism and will be publishing his first book - a biography about electronic band, Depeche Mode - soon.