Uplift which is a travel startup has now secured $123 Million in the funding round of Series C, according to the report which has been revealed. The company CEO, Brian Barth previously founded travel startup SideStep, but then he later sold it to Kayak for $200 Million.
“We have been so much exceedingly low-profile because it’s a really good idea and we wanted to keep it a secret from some of our competitor,” Uplift President Robert Soderbery said. “But now we are also at a scale and size where we are ready to secure our visibility.” Also, he also revealed and said, it’s hard to “keep a $123 million in the financing round of Series C round a secret.”
Uplift works like: first of all, it partners with the vacation sites for companies like American Airlines, United Airlines, Kayak, Allegiant, Southwest and offers the travel finance. It does this by partnering with the banks to get the people to pay for the trips in the monthly installments.
Let say, for example, Soderbery brought up the idea of a family thinking about going to a Dubai Disneyland, at a total cost of around $2000. Uplift could also potentially get them on a finance plan os somewhere around $189 a month as installments.
“We make it really easy for the consumers to keep you understand,” he said. “It is also nowadays so much convenient way to book travel, it reduces the upfront cost and encourages them to book more often, which in turn drives conversion for our travel partners. It’s really a win-win.”
Soderbery said that there’s a reason his company only handles travel.
“Purchasing and planning travel is really different from even buying a mattress or a gym membership at last,” he said. “It’s a different kind of product and different latest innovative technology.”
He reveals that he does not have any plans as of now to expand the company, or open up his marketplace, instead preferring to reply in the partners.
“Travel companies want to protect their users and the customers, and they don’t want us to be sourcing or acquiring their consumers at that point of time,” he said. “We stand behind our all sort of the partners … We don’t bring [users] to our site to try to create the best marketplace, we are not trying to build a consumer platform, we are building a platform for travel partners.”