Led · Equity · Aug 2019

Upgrade Pack operates an app and closed online marketplace that connects to airline and hotel APIs to offer live, exclusive premium seat and room upgrades to members at typical savings of 15%–35%. The product is distributed exclusively through banks and credit card issuers as a premium customer reward, and through corporations as an employee benefit. Led by CEO Craig Unsworth, the company targets high-net-worth customers via partner banks and card issuers. Upgrade Pack plans to launch its travel tech platform after onboarding its first banking client, which will roll out the app to HNW customers. The company intends to use recent funding to launch the platform, expand into North America with a Toronto office in H1 2020, and accelerate APAC operations. Its market capitalization was reported at £23m 18 months after being established. Upgrade Pack is an app-delivered platform that connects to airline and hotel APIs to provide users with live premium seat and room upgrades via a closed online marketplace. The service targets consumers looking for reduced-cost upgrades and provides banks and corporations with a customer-reward mechanism. The platform typically delivers savings of 15% to 35% on premium upgrades. Led by Founder and Group CEO Craig Unsworth, the company plans to use new funding to launch its platform in the coming months and expand operations internationally. Upgrade Pack is announcing expansion hubs in Toronto for North America and Singapore for Asia Pacific as it rolls out to clients, partners and users worldwide. Financially, the company has raised $1.5M in the latest round, bringing total funds raised to $4.1M since founding 12 months ago and valuing the company at $18M (£15M).