December 5, 2022
Hopper, a Montreal-based company, is a “mobile-first travel marketplace” that facilitates flight, hotel, car and home rentals. Persevering through setbacks caused by the COVID-19 pandemic, Hopper recently secured $96 million USD ($130 million CAD) in equity funding from Capital One in order to expand its business-to-business (B2B) functionality and help the company move into the social commerce sphere. Hopper president, Dakota Smith, commented that the round valued Hopper at over $5 billion USD.
Capital One’s recent deal with Hopper extended the length of their existing strategic partnership. In 2021, Capital One led Hopper’s $170 million USD Series F round and last year, Capital One became the first and “keynote” client of Hopper’s B2B business, Hopper Cloud, for the purpose of launching Capital One Travel.
Hopper Cloud allows travel providers to integrate and distribute Hopper’s content. It has been reported that Hopper Cloud has grown four times over the past six months and is predicted to generate more income than Hopper’s entire business during 2021.
Caroline Jordan
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