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The subscription-based travel app will use the funding for product development and scaling
There are quite a few services that cater to travelers of all kind, services that will save you money on flights, hotels, and rental cars, but most of them have to make money on the individual purchase, so you're not saving as much money as you could be. That's where FinalPrice comes in, and people are liking the idea, made evident by FinalPrice's recent funding round that was just announced.
Totaling $4 million raised, the round saw investments from Almaz Capital, Sistema VC, and additional private investors. Funding will be used for additional product development, marketing, and scaling. The app also launched globally today, meaning that funding will start seeing use rather quickly.
Pavel Bogdanov, Almaz Capital General Partner, joins the FinalPrice board of directors,“We’re glad that the FinalPrice founding team, having built the largest online travel businesses in Eastern Europe, set its sights on the US market and turned to Almaz Capital for support."
“The majority of the U.S. market is moving to a subscription plan, from Netflix and Spotify to Amazon and dry cleaning. We want to become the Amazon Prime of travel,” FinalPrice founder Peter Kutis said. “With the old-school approach, online travel agencies utilize a model where competition is brutal and price is the only factor. A subscription approach to travel offers better prices and better loyalty. No more ‘spend more to save more,’ last minutes deals, or excluded taxes. You don’t have to be ‘Genius’ traveler to get fair prices."
For $99 a year, users get access to travel deals available, whether it is for air travel, hotels, or car rentals. For those of us that find ourselves in the air or in hotels often, having a service that costs a flat rate and finds great deals is a welcome reprieve, much better than scouring sites two days before your flight trying to find the best airfare or bundle. FinalPrice's algorithm is more advanced than many of their competitors, as well, taking into account things like ratings and location, unlike many that simply just look at price.
Currently, the service is only available to customers in the US, but you'll still be able to get deals worldwide.
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