Swiipr Secures £6M in Series A Funding Led by Octopus Ventures 

Swiipr, a travel paytech company transforming the airline industry’s outdated and inefficient disruption payments systems, has secured £6m in Series A funding, led by Octopus Ventures, to help drive the company’s next phase of growth.

As the world’s first airline specialised payments platform Swiipr is enabling airlines to digitise disruption payments, greatly enhancing the passenger experience and driving cost efficiency by up to 60%. Having launched in 2020, Swiipr is already used by 26
airlines across 70 countries, including a major flag carrier whose 4,000 staff are utilising the platform in over 167 of its airports globally.

Over 500m global passengers are estimated to be affected by flight disruption each year, costing airlines billions of dollars in payouts as well as significant customer dissatisfaction, reputational damage and regulatory fines, making compensation a board agenda issue for airlines.

Paper vouchers in particular are time-consuming to process and issue, fraud prone, notoriously retailer and passenger unfriendly, and environmentally unsustainable. Bank transfers can take months to process, physical cash is insecure and expensive to handle at airports, and loyalty points and future travel vouchers are often unpopular.

Swiipr’s integrated digital platform, including virtual and physical pre-paid compensation cards and a mobile app, give airlines the tools they need to solve these pain points for both themselves and passengers, whilst being fully compliant with the latest passenger rights regulations.