Reykjavik, 29 March 2022
Icelandic technology provider Dohop secures significant further investment from SEP
Dohop has raised a multi-million Euro follow-on investment to accelerate growth and continue transforming travel connectivity across the globe
Icelandic technology provider Dohop has raised an undisclosed growth equity round from Scottish Equity Partners (SEP). This investment will enable Dohop to further accelerate growth and develop its innovative virtual interlining offering, allowing airlines and scheduled transport providers to sell complex itineraries without the need for codesharing or traditional interline agreements.
Since SEP’s initial investment in November 2020, Dohop has expanded its network of partner airlines by 25+ carriers across five continents, resulting in a network of more than 50 carriers globally, including AirTransat, Vueling, LATAM, easyJet, and many others. The initial investment also enabled Dohop to grow its team by 31% in ten countries, including Germany, the United Kingdom, France, and Iceland.
With this new investment, Dohop plans to hire additional international talent and expand its development capabilities to address the unprecedented demand from airlines who are looking to increase their networks and create new connections. The industry, which has historically been constrained by cumbersome traditional interline processes, is now turning to more agile technology solutions in order to offer passengers more choice and convenience when traveling.
Dohop also intends to continue broadening its partner airline ecosystem and improving travel connectivity through its virtual interlining solutions. The travel industry is showing positive signs of recovery and Dohop has already seen a significant rise in revenue in 2022, with further growth expected.
David Gunnarsson, CEO of Dohop, said: “Our technology enables partnerships between airlines and offers passengers more destinations and travel customisation. With the support of SEP, our airline ecosystem has grown substantially, and we will continue to connect the world’s leading airlines, airports, and scheduled transport providers across the globe. We are delighted to have SEP’s continued support in our mission to revolutionise travel connectivity.”
Andrew Davidson, Director at SEP, commented: “With the easing of global travel restrictions, airlines are keen to expand their networks and distribution capabilities, and we are delighted to provide Dohop, the leading provider of interlining technology, with further funding to address a four billion annual passenger market.”
Dohop is an Icelandic technology company with 17 years of experience in developing innovative solutions in the field of aviation and travel. Dohop’s core technology is focused on helping people to find and create connecting itineraries. Being at the forefront of digital innovation in the field of virtual interline technology, Dohop has developed solutions such as Dohop Interline and Dohop Intermodal for forward-thinking airlines, alliances, and airports around the globe, including easyJet, Transavia, Air France, Eurowings, Vueling, and Air Transat.
About Scottish Equity Partners
Scottish Equity Partners (SEP) is one of Europe’s leading and most experienced technology growth equity firms, helping founders and management teams to achieve their global ambitions. Providing investment alongside expertise and access to an international network, SEP works closely with the companies it invests in to maximise business growth and value. Previous travel tech investments include global travel search business Skyscanner. SEP is a signatory to the UNPRI, the world’s leading proponent of responsible investment.