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Startup digitising airline disruption payments raises £6m

Tara Speilhagen, Swiipr Co-Founder
Tara Speilhagen, Swiipr co-founder. Image credit: Swiipr

A UK startup that has developed a platform for airlines to distribute flight disruption payments has raised £6m in funding.

Travel paytech company Swiipr said it would use the influx of capital to fund R&D, product developments and expansion in the international airline market.

Swiipr’s platform is looking to replace paper vouchers, cash and bank transfers for airline disruption compensation with its digital platform.

Launched in 2020, the Swiipr platform includes virtual and pre-paid compensation cards alongside a mobile app.

Passengers can access disruption funds – such as when baggage is lost – directly via Swiipr’s compensation card. They can also access funds for food and drinks via the platform when fights are delayed. The company says its technology is used by 26 airlines across 70 countries.

The Series A funding was led by Octopus Ventures, one of the UK’s most active VC investors, with support from TX Ventures and Solano Partners.

“Legacy compensation systems are unfit for purpose,” said Tara Spielhagen, co-founder and CEO of Swiipr. “Not only do they cost an airline billions of dollars every year but they also exacerbate disruption and stress. It doesn’t need to be this way in a digital age, and we are proud to have developed a new solution that solves so many pain points.”