Travel meta-search platform Aviasales has just announced receiving $43 million in investment from Elbrus Capital Funds and iTech Capital.
The company, which is focused on the Russian and CIS travel market, has a monthly audience exceeding 15 million users. According to the announcement, these new funds are to be used to launch new products and accelerate growth across international and domestic markets. Max Kraynov, CEO of Aviasales offered this:
“Despite all of the difficulties caused by the pandemic, and despite its significant negative impact on the economy in general and on the travel sector in particular, Aviasales is performing well above its pre-pandemic levels. Thanks to its strong business model the company finished 2020 in the black and is aggressively and profitably gaining market share in 2021.”
Kraynov went on to say his company has been continually investing in staff development and the product to strengthen the meta-engine’s position. He says part of the new focus will be to grow out non-flight revenue offerings.
This new financing will also support further development of Aviasales’ corporate travel service and Travelpayouts, a leading global platform for automated affiliate marketing.