UK Fintech and travel scaleup Upgrade Pack has announced a private investment round bringing total funds raised to £3.4 million over the last year.
The new £1.3 million continues the company’s growth through private investment rather than venture capital and values the company at £15 million.
The Upgrade Pack app connects directly to airline and hotel APIs, enabling users to access live, premium seat and room upgrades with an average savings of 15% to 35%. The new capital will allow the company to carry out its growth strategy and expand to Toronto and Singapore.
David Brownlow, co-founder of resourcing firm Huntswood and investment firm Havisham Group, will join the Upgrade Pack board as company Chairman.
Craig Unsworth, Upgrade Pack founder and chief executive officer, commented: “It was clear right from introducing David to our platform that he understood the value of what we’re creating, and matched our ambition to bring something entirely new to the market.
“Having someone of David’s calibre and experience will be invaluable as we expand into North America, and Asia Pacific this year.”
Havisham Group has previously invested in new and early stage businesses across a range of industries including software and technology. Brownlow was appointed vice-chairman of campaigning for the conservative party in 2017.
He was appointed deputy to the lord lieutenant of the Royal County of Berkshire in 2018, has worked extensively with HRH The Prince of Wales’ charities and was featured in the Queen’s Birthday Honours List of 2018 when he was appointed a commander of the Royal Victorian Order (CVO).
Brownlow commented: “I’m delighted to join Upgrade Pack as Chairman during this exciting phase of growth.
“Its innovative, easy-to-use technology is a game-changer within customer loyalty, and I look forward to seeing users and clients alike derive huge value from this transformative platform.”