Getyourguide secures itself 80 million euros

The start-up wants to use the loan to make strategic investments - and hopes that many trips will be possible again this year.

It is an unusual step when a start-up gets money from banks. Although Getyourguide is not yet profitable, the start-up is now receiving 80 million euros from a consortium of banks. The lenders are Citigroup, Deutsche Bank, Unicredit and KfW with its "Venture Tech Growth Financing" funding program.

With the money, Getyourguide hopes to have more room to make new strategic investments during the travel recovery. Those should come later this year, when the world has managed to get a better handle on Covid-19, the startup estimates.

"We are at a real inflection point in the travel industry. As the world rolls out vaccination programs, we see a significant pent-up demand for personalized, incredible travel experiences," says Johannes Reck, CEO and co-founder.

The start-up offers a platform for travellers worldwide, through which, for example, guided tours, tickets for museums or excursion destinations can be booked.

Just last October, Getyourguide received a convertible bond in the amount of 114 million euros. According to Reck, there was also money left over from the 433-million financing from 2019 last fall. Nevertheless, the Berlin-based start-up had to lay off a sixth of its workforce in 2020.