Traveltek Adds £1.3M to Coffers for Packaging Technology Development

Traveltech, a specialist in travel packaging technology, has attracted a 1.3 million investment Funding for the Scotland-based company comes from funds managed by YFM and FTI. YFM has invested in Travelte in the past with £5.3 million in 2016 to kickstarting the company’s international expansion.

The latest investment will enable further growth of the company’s product portfolio, according to a statement. It will also lead to the expansion of Traveltech in the United States where it was launched in 2018 with an initial focus on cruises. As part of the funding, ITC Travel Group CEO Phil Eard-Mash and a travel industry veteran who previously played the roles of Thomas Cook and Mitravel joined the board as chairman.

Marie Barrett, CEO of Traveltech, said: “The £1.3 million investment announcement is not about renewing or rebuilding our core products, but about accelerating the journey to build the world’s leading travel technology platform. He added that YFM has provided strategic support and assisted in networking opportunities in recent years. Steve Harrison, partner at YFM, added: “This latest investment will enable Turbo to expand its activities around new products and development.” Marie Barrett, CEO of Traveltech, said: “The £1.3 million investment announcement is not about renewing or rebuilding our core products, but about accelerating the journey to build the world’s leading travel technology platform. He added that YFM has provided strategic support and assisted in networking opportunities in recent years. Steve Harrison, partner at YFM, added: “This latest investment will enable Turbo to expand its activities around new products and development.”

Traveltech is an award-winning travel technology company that provides an innovative and wide range of products that enable travel companies to be more productive, efficient and scalable. Our goal is to create a global marketplace by connecting the world of travel through leading technology, wide distribution capabilities and sophisticated data insights.

Our customers are our partners, and we are committed to providing the best in customer service and support in their markets. Want to join the Traveltech team? We currently have several vacancies in our software and development team. For more information, see our career page.