Travelbird, an Amsterdam-based online platform for travel booking that has raised more than €20 million to date, has fully suspended its operations and declared financial insolvency. The company currently employs 310 people in its Amsterdam headquarters — less than a half of its staff as of April 2015.
In a message posted on the Dutch version of its website, the company stated that it has to stop its operations because of a failure to attract extra funding to pay its suppliers.
“TravelBird has grown explosively since its launch in 2010 and was profitable for the first time in the first half of 2018,” the message continues (translated from Dutch). “Due to seasonal fluctuations, there has been a backlog in payments to partners in recent months and TravelBird has actively sought additional financing. Unfortunately, that did not succeed in time.
“In the past 8 years, TravelBird has been able to inspire more than 7 million travellers with often special and personal travel experiences. TravelBird is always grateful to all travellers for having chosen TravelBird for all years.
“Thanks also to our intensively involved 310 employees and partners who have been busy all year for our travellers.”
The travellers who have booked a holiday with Travelbird are supposedly covered by the Stichting Garantiefonds Reisgelden (SGR), an organisation that guarantees travel booked through member firms. On its website, SGR warns customers not to make any further payments to Travelbird even at the express request from the company, since they won't be guaranteed.