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Travel Startup Drew $10M, Tandym Bagged $60M, and More Chicago Tech News – Built In Chicago

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Travel season is upon us, and travel startups are reeling in the big bucks. This past week, the Chicago tech community witnessed several investments in travel companies as well as a large $60 million investment in an e-commerce startup. Read up on this and more Chicago tech news with the Built In Chicago Weekly Refresh.

Tandym launched with $60M. The fintech startup partners with e-commerce brands that make under $1 million in revenue to help them offer credit lines and credit cards to their customers. The $60 million in funding is split into $10 million in equity and $50 million in debt financing. With the new capital, the Chicago-based startup is planning to add 10 new employees to its 14-person team. [Built In Chicago]

Tripscout launched Instagram hotel booking chatbot. Tripscout started as a trip-planning platform, but now it will let customers book hotel rooms at discounted rates through Instagram. To book a room, customers must send a private DM to Tripscout’s Instagram, where they will be provided a link to browse hotel rooms. With the launch, the company also announced that it raised $10 million in a Series A round led by Corazon Capital. [Chicago Inno]

CHICAGO QUOTE OF THE WEEK

“After the disruption of a global pandemic, the travel industry is entering a period of unprecedented innovation and growth where our new approach to data and marketing is enabled across the entirety of the travel ecosystem.” — Jeffrey Katz, Journera CEO

A Chicago travel data startup raised $10M. Chicago-based Journera helps marketers and travel agencies find potential travelers. The startup was founded by Jeffrey Katz, the former CEO and president of Orbitz. Journera has raised $30.6 million in venture funding since launching in 2016. [Built In Chicago]

A Chicago publishing company received funding. Chicago-based ePublishing secured an investment from JB Captial, an alternative credit investment firm. EPublishing is a SaaS software company that provides solutions for online publishing such as content management, audience management and e-commerce solutions. [Business Wire]

Source: https://www.builtinchicago.org/2022/06/06/chicago-tech-news-060622

Author: News tech