Travelshift, a Reykjavik-based online travel agency (OTA) has raised $10 million of capital from existing shareholder General Electric, raising the company's total funding amount to $30 million.
Going head-to-head with a number of competitors including GetYourGuide, Travelshift's newest injection of capital follows the company's launch of Guide to Europe, an end-to-end AI-powered platform that aims to provide the power to book everything a traveler could want and/or need all within one app.
Likewise, the service provides a number of itineraries, which according to the company, comprise the largest selection of vacation packages in Europe.
"This financing round enables us to accelerate our growth initiatives and continue to build the next generation of travel through innovative use and application of AI to deliver personalised and seamless travel experiences," commented newly installed CEO Dave Stewart.
Prior to his appointment this past May as CEO at Travelshift, Stewart served as global head of private equity at State Street Global Advisors, the world's fourth-largest asset management company with $3.5 trillion in assets under management.
Lead image: Nicolas J Leclercq