After raising €2 million in 2019, Fairjungle announces that it has closed a new €4 million Seed round. This round of funding was raised from Galion.exe and renowned investors such as Michele Attisani (ESL FACEIT), Ghassan Rachid (A&G Invest) and Bertrand Mabille (former Managing Director CWT). The young start-up specialising in low-carbon business travel management claims that this financing will enable it to considerably accelerate its growth…
Fairjungle, the integrated travel companion
Founded in 2017 by Saad Berrada (Polytechnicien, ex-Goldman Sachs and McKinsey), Samir Idris (Centrale/HEC Paris, ex-McKinsey and Schlumberger) and Bertrand Guiheneuf (INRIA, ex-Apple and CTO of Fotopedia) this French start-up now has 20,000 active users from 28 different countries. The reason for this is that the cutting-edge technology developed by the startup makes it possible to simplify and personalise the management of business trips.
Indeed, Fairjungle aggregates more than 450 international airlines. But also, 1 million hotels, a dozen European railway companies and car rental companies. From now on, the experience is more fluid for business travellers. They can choose their services from a very diverse inventory, with preferential rates. From a technological point of view, the platform integrates seamlessly with companies’ HR and finance tools. This makes it easier for teams to control their employees’ expenses, as everything is automated.
A development on 4 strategic axes
After launching its web platform and app in 2019, Fairjungle has become a reference in its market. In 2022, its growth represented 400% of its turnover. Today, its fundraising enables it to position itself as a major player in the digital and eco-responsible transformation of the business travel market. A market estimated at €260 billion, where the digital revolution has only just begun…
First, Fairjungle plans to go further in the commercial development of its activity. To do this, the French start-up wants to invest in customer acquisition channels. But also work on partnerships and sponsorship programmes. Secondly, the Frenchtech aims to accelerate its innovations, notably with the development of new exclusive functionalities for its solution. Their objective would be to strengthen the automation of travel management and the integration of unique low-carbon management tools. This will make it easier for Fairjungle to attract new target companies (50 to 1000 employees) on a European scale. This can only encourage its internationalization. Finally, in order for all this to happen as quickly as possible, Fairjungle aims to recruit around thirty new talents. One thing is certain, the French start-up seems to have a bright future…
The funding will be used to accelerate our business development, strengthen our product and technology teams and launch us internationally. Our ambition is to become the leading travel management solution for small and medium-sized companies over the next 5 years.
Saad Berrada, CEO of Fairjungle.
