WeTravel
, a booking and payments platform for the multi-day travel industry, has added an instant payment feature to its fintech offerings.
The feature allows travel businesses in the United States that use WeTravel’s platform to transfer funds to suppliers, employees and contractors for immediate cash withdrawal.
“As the only vertical SaaS for the multi-day travel industry, we’re constantly evolving our product to meet the back-end operational needs of our users and, more holistically, every multi-day travel business that could be a user,” says WeTravel co-founder and CEO Johannes Koeppel.
“To roll out more fintech solutions through our platform that help travel businesses manage cash flow, while directly putting funds into the receiver’s hands, will help manage operator and supplier relationships and better balance business revenue.”
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The company, founded in2016, says the feature, which answers users’ frequent need to pay partners in cash by making possible immediate access to cash funds from any ATM or bank.
“In the travel industry, suppliers are heavily reliant on cash withdraws to pay tour leaders, local businesses and community activities and, in so deep as, group tipping. For all businesses - but especially local suppliers, vendors and employees who need tourism dollars, instantly - our most recent fintech solution will continue to help businesses increase revenue and stakeholder satisfaction, while managing their business’s risk funds and cash flow” says Koeppel.
More than 3,500 travel companies use WeTravel’s platform. In 2018, the company
raised $2 million
in funding.