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 for a start-up to receive money from banks. Although Getyourguide is not yet profitable, the start-up is now receiving 80 million euros from a banking consortium. The lenders are Citigroup, Deutsche Bank, Unicredit and KfW with its "Venture Tech Growth Financing" program.

Getyourguide hopes that the money will give it more scope to make new strategic investments during the travel recovery. These should come later this year once the world has managed to get a better grip on Covid-19, the start-up estimates.

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

The start-up offers a platform for travelers worldwide that can be used to book guided tours, tickets for museums or excursion destinations, for example.

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 euros in financing from 2019 last fall. Nevertheless, the Berlin-based start-up had to lay off a sixth of its workforce in 2020.