Tofte & Company – AirHelp closes Investment from Nordic Eye
The financing will help AirHelp further accelerate its growth via investment in claims handling capabilities to harvest on the massive inbound customer intake the company is experiencing. The funding will also accelerate efforts in the various partner relations the company has entered into.
In a market estimated to be worth up to $25 billion annually, AirHelp has quickly become a dominant player because of its rapid scale, flight disruption tracking technology and its user-friendly mobile phone app and online web form, which makes it easier than ever to file for compensation. Passengers can simply login with Gmail, TripIt, Outlook or Yahoo and start the search for past eligible flights, or enter their disrupted flight details into the system – within seconds they will know if they qualify for compensation – and at the click of a button they can file a claim.
“We have been following AirHelp from the side line for long and remain excited about their results. We are happy that we got to invest into the company and can now participate actively in the further development of the success that has already been created,” says Managing Partner, Peter Warnøe who will be joining the board as observer.
“The long lasting collaboration with Tofte & Company has been very satisfactory and a position is now reached where AirHelp can further accelerate its development,” says Henrik Zillmer, CEO of AirHelp. “With the recent investment we not only managed to secure funds for further growth but also important knowledge and network for our further expansion.” “It has been a pleasure working with Tofte & Company who have continuously impressed me with their ability to understand our business as well as their persistent support and impressive deal making skills to secure further funding. We look forward to go to market with our series B round next year based on many interesting investor dialogs already held.”
“I am very impressed by the traction and positioning AirHelp has obtained within their space. Henrik has persistently been pursuing his goal of creating the worlds leading Air Passenger Rights company and has in his journey shown remarkable execution skills,” says Thomas Tofte. “ I have never experienced a company with such an aggressive continuous growth – even after having reached scale and I can not wait to follow the journey as AirHelp continues to grow fueled by an amazing management team and a tier one investor group behind them.”
AirHelp is a Y-Combinator backed startup that helps travellers assert their legal rights and file for the flight disruption compensation they are rightfully entitled to under EU law.
Since its founding in 2013, AirHelp has helped over 5 million passengers for several hundreds of millions USD in flight disruption compensation for travelers worldwide. This makes AirHelp the world’s biggest company in its category.
AirHelp is live in 30 countries, offers support in 15 languages and employs more than 500 AirHelpers globally.