Online travel group Emerging Travel raises $10m through funding round

8th July 2019 (Last Updated July 15th, 2019 14:25)

Emerging Travel Group, a US-based online travel group, has raised $10m through a financing round led by technology entrepreneur Lev Leviev of LVL1 Group and the family office of Playrix co-founders, Igor and Dmitri Bukhman.

Online travel group Emerging Travel raises $10m through funding round
The group has operations in over 100 sources markets.Credit: Marten Bjork on Unsplash

Emerging Travel Group, a US-based online travel group,  has raised $10m through a financing round led by technology entrepreneur Lev Leviev of LVL1 Group and the family office of Playrix co-founders, Igor and Dmitri Bukhman.

The group has operations in over 100 sources markets with brands such as RateHawk, ZenHotels, and Ostrovokh.

RateHawk, the business to business brand of Emerging Travel Group, was launched in 2016. By 2018, the online hotel-booking platform turnover grew by over 300%.

Emerging Travel Group CEO Felix Shpilman said: We are excited to scale RateHawk, our fast-growing global B2B service. RateHawk has demonstrated strong traction in all of its 28 launched countries and we continue to open new markets by deploying local business development teams.

“We intend to focus on the product, localization, and customer support to make RateHawk the default booking engine for any travel professional worldwide.

The company employs business development staff in 28 countries. The site is available in nine languages – English, German, French, Italian, Spanish, Portuguese, Polish, Turkish, and Russian.

RateHawk platform provides access to more than 1 million accommodations across the world through its API and web product. It is used by over 9,500 travel professionals in Europe, the Middle East, South America, and Africa.

In 2018, the service started operating in 21 new markets.

Lev Leviev will represent investors on the Emerging Travel Group’s board of directors,

Leviev said: “We are very impressed with the company’s traction. B2C maintains its leading position in the local market while B2B continues its fast growth across many regions. The Company has a clear strategy, focus, and solid execution capabilities to unlock further growth and value.”

Set up in 2010, Emerging Travel Group has the backing of international venture investors and angels including Founders Fund, Frontier Ventures, Vaizra Capital, Yuri Milner, Esther Dyson, Data Collective, and Fritz Demopoulos.