Swiipr: Transforming Airline Disruption Payments Globally
Travel paytech company, Swiipr, has recently secured £6m in Series A funding led by Octopus Ventures to further its mission of digitally transforming the airline industry's disruption payments systems. The company is revolutionizing outdated processes by enabling airlines to digitize disruption payments, enhancing the passenger experience and driving cost efficiency by up to 60%. Swiipr's platform has already been adopted by 26 airlines across 70 countries, including a major flag carrier with 4,000 staff utilizing the platform in over 167 airports globally.
With over 500m global passengers affected by flight disruption annually, airlines face significant financial losses, customer dissatisfaction, reputational damage, and regulatory fines.
Swiipr's integrated digital platform offers virtual and physical pre-paid compensation cards, along with a mobile app, to streamline the compensation process for both airlines and passengers while ensuring compliance with the latest passenger rights regulations. The platform also provides airlines with valuable retail insights, boosts loyalty through personalized offers, and helps minimize fraud and processing time.
The recent Series A funding will enable Swiipr to enhance its solutions further, accelerating its growth and expansion in the international airline market. Co-founder and CEO, Tara Spielhagen, expressed pride in developing a new solution that addresses many pain points and benefits both airline partners and customers. Co-founder and Chairman, Ian Clowes, emphasized the importance of eliminating compensation friction points, particularly as the industry faces increasing challenges with climate change. With strong investor support and a clear vision for the future, Swiipr aims to become a market leader in passenger compensation within the airline industry.
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